{"id":92150,"date":"2024-10-17T11:25:01","date_gmt":"2024-10-17T08:25:01","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=92150"},"modified":"2024-10-17T11:25:16","modified_gmt":"2024-10-17T08:25:16","slug":"ecb-decision-day","status":"publish","type":"post","link":"https:\/\/www.smartchinaeducation.com\/id\/ecb-decision-day\/","title":{"rendered":"ECB decision day"},"content":{"rendered":"

The ECB\u2019s interest rate decision is set to occur later on today, with the majority of market participants currently anticipating the bank to cut by 25 basis point. In particular, EUR OIS currently implies a 99.6% probability for such a scenario, and thus attention may turn to the accompanying statement and ECB President Lagarde\u2019s press conference following the decision. As such, should ECB President Lagarde imply that the ECB will continue on its rate-cutting cycle, it may weigh on the EUR. Whereas any hesitancy to commit to future rate cuts, could be perceived as hawkish in nature which in turn may aid the EUR.Japan\u2019s CPI rate for September is due out in tomorrow\u2019s Asian session. The CPI rate is expected to showcase easing inflationary pressures in the Japanese economy by coming in at 2.3% year on year at a core level. Should the core and headline CPI rates slow down, they could amplify the narrative that the BOJ is on track to sustainably achieve its 2% inflation goal and thus may ease calls for further rate hikes, which could weigh on the JPY. On the flip side, should the CPI rates fail to slow down as expected, it may have the opposite effect and thus may provide support for the JPY.Over in Australia, the nation\u2019s unemployment rate for September came in lower than expected at 4.1% versus the expected rate of 4.2%, which may imply a resilient labour market. In turn, the resilient labour market may edge the RBA towards a more restrictive monetary policy approach, which may aid the AUD.<\/p>\n\n\n\n

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