The Euro is trying to keep momentum. Overview for 22.02.2019

This week, EURUSD has been experiencing rather volatile trading sessions and is attempting to recover again of Friday. 

The major currency pair changes its direction over and over again and right now, it is being bought. The current quote for the instrument is 1.1346.

In the morning, Germany published the preliminary report on the GDP in the fourth quarter 2018. The country’s economy showed zero improvement on QoQ, while on YoY it added 0.6%. However, for the Euro these numbers were rather neutral. In addition to that, later in the afternoon Germany will report on the Ifo Business Climate in February, which is expected to fall a bit. 

In the afternoon, the Euro Area is scheduled to publish the CPI and the Core CPI in January, which are expected to be 1.4% y/y and 1.1% y/y respectively. However, these are final reports, so investors are already aware of previous estimations, hence no surprises at all.

At 3:30 PM GMT, the ECB President Draghi is going to speak – the agenda is unknown, but he is very unlikely to speak only about the regulator’s monetary policy. Market players’ attention is focused on the Brexit, so he might say some words about it.  

In the evening, several policymakers from the US Federal Reserve are also scheduled to deliver their speeches. Apart from this, the American regulator will publish the Fed Monetary Policy Report. Again, no one is expecting anything really surprising from it. However, one should never exclude such possibility – in the evening, EURSUSD may become more volatile again.