During today’s early trading session, Asian stocks were mixed as investors await Japan’s Monetary Policy statement later this evening, traders will listen closely for clues on the outcome of future interest rate decisions.
During the European session, the EUR/USD is trading with bullish sentiment and retreating from 12 year lows, on Friday the pair dropped to 1.046 as expectations for an interest rate hike boosted demand for the Dollar. Traders are now awaiting ECB’s President Draghi’s speech at 18:45 GMT, traders will listen closely to his remarks for any clues on future monetary policy.
During early U.S. trade, the Dollar Index slipped lower after U.S. data showing that NY Empire State Manufacturing Index showed a lower than expected figure. On Wednesday the U.S. Federal Open Market Committee statement will take place, this a key event for investors as it discusses interest rate decisions and factors affecting the economic outlook.
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