{"id":88326,"date":"2024-07-18T11:40:06","date_gmt":"2024-07-18T08:40:06","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=88326"},"modified":"2024-07-31T16:59:45","modified_gmt":"2024-07-31T13:59:45","slug":"ecb-decision-today","status":"publish","type":"post","link":"https:\/\/www.smartchinaeducation.com\/th\/ecb-decision-today\/","title":{"rendered":"ECB decision today"},"content":{"rendered":"<p>The ECB\u2019s interest rate decision is set to occur later on today. The majority of participants are anticipating the bank to remain on hold, with EUR OIS currently implying a 95.33% probability for such a scenario to materialize. As such, our attention turns to ECB President Lagarde\u2019s press conference which is set to occur after the decision. Should ECB President Lagarde imply that the bank may proceed with further rate cuts this year, as is expected by market participants, it could be perceived as dovish in nature, which in turn could weigh on the common currency. On the flip side, any form of hesitation to continue cutting rates this year, could instead be perceived as hawkish in nature, which in turn may aid the EUR. On a political level, we note that elections for the position of Commission President are set to occur during today\u2019s European session. In the event that the incumbent President Ursula von der Leyen fails to secure at least 361 out of 720 votes in favor of a second five year term, it could potentially spark a political crisis within the EU, which in turn could weigh on the EUR. Over in the US the Philly Fed Business index figure for July is expected to come in at 2.7 which would be higher than the previous figure of 1.3. Therefore, should the figure come in as expected or higher it may aid the greenback, whereas any figure lower could have negative implications for the dollar. Over in Asia, Japan\u2019s CPI rates for June are set to be released in tomorrow\u2019s Asian session. The current market expectations are for the Core CPI rate for June to come in at 2.7% which would be higher than the prior rate of 2.5%. As such, should it come in as expected or higher, thus implying an acceleration of inflationary pressures, it may aid the JPY.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"ECB&#039;s interest rate decision in the epicenter\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/dj0hI7QKaKM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>EUR\/USD appears to be moving in an upwards fashion. We maintain our bullish outlook for the pair and supporting our case is the RSI indicator below our chart which currently registers a figure above 60, implying a bullish market sentiment, in addition to the upwards-moving trendline which was incepted on the 2nd of July. For our bullish outlook, to continue we would require a break above the 1.0980 (R1) resistance line with the next possible target for the bulls being the 1.1047 (R2) resistance level. On the flip side, for a sideways bias we would require the pair to remain confined between the 1.0920 (S1) support level and the 1.0980 (R1) resistance line. Lastly, for a bearish outlook, we would require a clear break below the 1.0920 (S1) support level, with the next possible target for the bears being the 1.0865 (S2) support level.<\/p>\n\n\n\n<p>XAU\/USD appears to be moving in an upwards fashion, after bouncing off near our 2450 (S1) support level. We opt for a bullish outlook for the commodity and supporting our case is the RSI indicator below our chart which currently registers a figure above 60 implying a bullish market sentiment, in addition to the upwards moving trendline which was incepted on the 11th of July. For our bullish outlook to continue, we would require a break above the 2480 (R1) resistance level, with the next possible target for the bulls being the 2510 (R2) resistance line. On the flip side for a bearish outlook, we would require a clear break below the 2450 (S1) support level, with the next possible target for the bears being the 2417 (S2) support level. Lastly, for a sideways bias, we would require the precious metal to remain between the 2450 (S1) support level and the 2480 (R1) resistance line.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Other highlights for the day<\/strong><\/h2>\n\n\n\n<p>Today in the European session, we note the UK\u2019s employment data for May, followed by the US weekly initial jobless claims figure and the US Philly Fed business index figure for July. In tomorrow\u2019s Asian session, we note Japan\u2019s CPI rates for June. On a monetary level, we highlight and stress the importance of the ECB\u2019s interest rate decision, followed by ECB President Lagarde\u2019s press conference and the speech by Dallas Fed President Logan. In tomorrow\u2019s Asian session, we note the speeches by San Francisco Fed President Daly and Fed board Governor Bowman.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eur-usd-4h-chart\"><strong>EUR\/USD 4H Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"476\" src=\"\/wp-content\/uploads\/2024\/07\/image-85.png\" alt=\"support at  one point zero nine two zero and resistance at one point zero nine eight zero, direction upwards  \" class=\"wp-image-88332\" title=\"eur-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Support: 1.0920 (S1), 1. 0865 (S2), 1. 0810 (S3)<\/li>\n\n\n\n<li>Resistance: 1.0980 (R1), 1.1047 (R2), 1.1105 (R3)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>XAU\/USD 4H Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"476\" src=\"\/wp-content\/uploads\/2024\/07\/image-84.png\" alt=\"support at  two thousand four hundred and fifty and resistance at two thousand four hundred and eighty , direction upwards  \" class=\"wp-image-88331\" title=\"xau-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Support: 2450 (S1), 2417 (S2), 2390 (S3)<\/li>\n\n\n\n<li>Resistance: 2480 (R1), 2510 (R2), 2540 (R3)<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1989\" height=\"503\" src=\"\/wp-content\/uploads\/2024\/07\/image-86.png\" alt=\"\" class=\"wp-image-88333\" title=\"benchmark-18-07-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1112\" height=\"652\" src=\"\/wp-content\/uploads\/2024\/07\/image-83.png\" alt=\"\" class=\"wp-image-88330\" title=\"table-18-07-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1089\" height=\"1125\" src=\"\/wp-content\/uploads\/2024\/07\/image-87.png\" alt=\"\" class=\"wp-image-88334\" title=\"morning-releases-18-07-2024\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>The ECB\u2019s interest rate decision is set to occur later on today. The majority of participants are anticipating the bank<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-88326","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ECB decision today<\/title>\n<meta name=\"description\" content=\"ECB rate decision today; Lagarde\u2019s comments could impact EUR. Philly Fed index, Japan\u2019s CPI data also in focus.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/th\/wp-json\/wp\/v2\/posts\/88326\/\" \/>\n<meta property=\"og:locale\" content=\"th_TH\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECB decision today\" \/>\n<meta property=\"og:description\" content=\"ECB rate decision today; Lagarde\u2019s comments could impact EUR. Philly Fed index, Japan\u2019s CPI data also in focus.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smartchinaeducation.com\/th\/ecb-decision-today\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-18T08:40:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-31T13:59:45+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/ecb-decision-today\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/ecb-decision-today\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"ECB decision today\",\"datePublished\":\"2024-07-18T08:40:06+00:00\",\"dateModified\":\"2024-07-31T13:59:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/ecb-decision-today\\\/\"},\"wordCount\":802,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"th\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/ecb-decision-today\\\/\",\"url\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/ecb-decision-today\\\/\",\"name\":\"ECB decision today\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/#website\"},\"datePublished\":\"2024-07-18T08:40:06+00:00\",\"dateModified\":\"2024-07-31T13:59:45+00:00\",\"description\":\"ECB rate decision today; Lagarde\u2019s comments could impact EUR. Philly Fed index, Japan\u2019s CPI data also in focus.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/ecb-decision-today\\\/#breadcrumb\"},\"inLanguage\":\"th\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/ecb-decision-today\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/ecb-decision-today\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ECB decision today\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/#website\",\"url\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. Become an IB and enjoy the highest market rebates.&quot;\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"th\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/#organization\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"url\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"th\",\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/ironfx-forex-trading.jpg\",\"contentUrl\":\"\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/ironfx-forex-trading.jpg\",\"width\":1200,\"height\":627,\"caption\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\"},\"image\":{\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.smartchinaeducation.com\\\/th\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\",\"name\":\"IronFX Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"th\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g\",\"caption\":\"IronFX Team\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"ECB decision today","description":"ECB rate decision today; Lagarde\u2019s comments could impact EUR. Philly Fed index, Japan\u2019s CPI data also in focus.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ironfx.com\/th\/wp-json\/wp\/v2\/posts\/88326\/","og_locale":"th_TH","og_type":"article","og_title":"ECB decision today","og_description":"ECB rate decision today; Lagarde\u2019s comments could impact EUR. Philly Fed index, Japan\u2019s CPI data also in focus.","og_url":"https:\/\/www.smartchinaeducation.com\/th\/ecb-decision-today\/","og_site_name":"Complete Turnkey Introducing Brokers (IB) Solution at IronFX","article_published_time":"2024-07-18T08:40:06+00:00","article_modified_time":"2024-07-31T13:59:45+00:00","author":"IronFX Team","twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.smartchinaeducation.com\/th\/ecb-decision-today\/#article","isPartOf":{"@id":"https:\/\/www.smartchinaeducation.com\/th\/ecb-decision-today\/"},"author":{"name":"IronFX Team","@id":"https:\/\/www.smartchinaeducation.com\/th\/#\/schema\/person\/6727476356d10030d1564b38f6e699b1"},"headline":"ECB decision today","datePublished":"2024-07-18T08:40:06+00:00","dateModified":"2024-07-31T13:59:45+00:00","mainEntityOfPage":{"@id":"https:\/\/www.smartchinaeducation.com\/th\/ecb-decision-today\/"},"wordCount":802,"commentCount":0,"publisher":{"@id":"https:\/\/www.smartchinaeducation.com\/th\/#organization"},"articleSection":["Uncategorized"],"inLanguage":"th"},{"@type":"WebPage","@id":"https:\/\/www.smartchinaeducation.com\/th\/ecb-decision-today\/","url":"https:\/\/www.smartchinaeducation.com\/th\/ecb-decision-today\/","name":"ECB decision today","isPartOf":{"@id":"https:\/\/www.smartchinaeducation.com\/th\/#website"},"datePublished":"2024-07-18T08:40:06+00:00","dateModified":"2024-07-31T13:59:45+00:00","description":"ECB rate decision today; Lagarde\u2019s comments could impact EUR. Philly Fed index, Japan\u2019s CPI data also in focus.","breadcrumb":{"@id":"https:\/\/www.smartchinaeducation.com\/th\/ecb-decision-today\/#breadcrumb"},"inLanguage":"th","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smartchinaeducation.com\/th\/ecb-decision-today\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.smartchinaeducation.com\/th\/ecb-decision-today\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smartchinaeducation.com\/th\/"},{"@type":"ListItem","position":2,"name":"ECB decision today"}]},{"@type":"WebSite","@id":"https:\/\/www.smartchinaeducation.com\/th\/#website","url":"https:\/\/www.smartchinaeducation.com\/th\/","name":"\u0e42\u0e0b\u0e25\u0e39\u0e0a\u0e31\u0e48\u0e19\u0e1c\u0e39\u0e49\u0e41\u0e19\u0e30\u0e19\u0e33\u0e42\u0e1a\u0e23\u0e01\u0e40\u0e01\u0e2d\u0e23\u0e4c (IB) \u0e41\u0e1a\u0e1a\u0e04\u0e23\u0e1a\u0e27\u0e07\u0e08\u0e23\u0e17\u0e35\u0e48 IronFX","description":"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. Become an IB and enjoy the highest market rebates.&quot;","publisher":{"@id":"https:\/\/www.smartchinaeducation.com\/th\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.smartchinaeducation.com\/th\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"th"},{"@type":"Organization","@id":"https:\/\/www.smartchinaeducation.com\/th\/#organization","name":"\u0e42\u0e0b\u0e25\u0e39\u0e0a\u0e31\u0e48\u0e19\u0e1c\u0e39\u0e49\u0e41\u0e19\u0e30\u0e19\u0e33\u0e42\u0e1a\u0e23\u0e01\u0e40\u0e01\u0e2d\u0e23\u0e4c (IB) \u0e41\u0e1a\u0e1a\u0e04\u0e23\u0e1a\u0e27\u0e07\u0e08\u0e23\u0e17\u0e35\u0e48 IronFX","url":"https:\/\/www.smartchinaeducation.com\/th\/","logo":{"@type":"ImageObject","inLanguage":"th","@id":"https:\/\/www.smartchinaeducation.com\/th\/#\/schema\/logo\/image\/","url":"\/wp-content\/uploads\/2021\/07\/ironfx-forex-trading.jpg","contentUrl":"\/wp-content\/uploads\/2021\/07\/ironfx-forex-trading.jpg","width":1200,"height":627,"caption":"Complete Turnkey Introducing Brokers (IB) Solution at IronFX"},"image":{"@id":"https:\/\/www.smartchinaeducation.com\/th\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.smartchinaeducation.com\/th\/#\/schema\/person\/6727476356d10030d1564b38f6e699b1","name":"IronFX Team","image":{"@type":"ImageObject","inLanguage":"th","@id":"https:\/\/secure.gravatar.com\/avatar\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g","caption":"IronFX Team"}}]}},"_links":{"self":[{"href":"https:\/\/www.smartchinaeducation.com\/th\/wp-json\/wp\/v2\/posts\/88326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smartchinaeducation.com\/th\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.smartchinaeducation.com\/th\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.smartchinaeducation.com\/th\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smartchinaeducation.com\/th\/wp-json\/wp\/v2\/comments?post=88326"}],"version-history":[{"count":0,"href":"https:\/\/www.smartchinaeducation.com\/th\/wp-json\/wp\/v2\/posts\/88326\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.smartchinaeducation.com\/th\/wp-json\/wp\/v2\/media?parent=88326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smartchinaeducation.com\/th\/wp-json\/wp\/v2\/categories?post=88326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smartchinaeducation.com\/th\/wp-json\/wp\/v2\/tags?post=88326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}