Markets have been clearly focused on any news headlines surrounding the ongoing trade sagas. All that will get put to the side, at least for a couple of hours, as we get two key interest rate decisions today.

The ECB and BOE both meet and will be releasing their official decisions on rates. While there is expected to be no change in rates, the EUR/USD will be one to watch closely, as ECB Mario Draghi takes the stage at his regular press conference.

Draghi is a known dove and likely isn’t too keen on seeing rates rise any time soon. He also wanted to cling to his bond buying at all cost.

In the US session we will also get data on core CPI. The USD has been a little weak and has been back and forth on trade murmous. This is an important number that will have the potential to move markets.

It looks like we are in for another busy session, particularly in Europe today.

Forex Signal Update

The FX Leaders Team had another busy day as the boys grabbed four winners from six signals. It was the indices that were particularly busy, led by the CAC.

EUR/USD – The EUR/USD has been pushing higher but is still stuck below resistance. With the ECB today, we might get a break one way or another.

EUR/CHF – The EUR/CHF spiked and has fallen back through the 1.1300 level. We’ve been waiting on this trade for a while now.

NZD/USD – Active Signal

The NZD/USD along with its Aussie counterpart have been two of the most active recently as they have been getting sold off hard. The trade news boosted both and that opened the door for a short in the NZD/USD.

Bitcoin – Active Signal

Bitcoin is holding above the $6,000 level and we are just about to test some important resistance levels. If price can hold over the $6,400-500 mark, then we are looking a lot stronger. We already put in a higher low which is promising.