Couple of goodies to discuss throughout the session
Trump/Juncker making deals
The pair hugged it out after coming to an agreement that sees the reduction of industrial barriers to trade on both sides.
The EU agreed to increase imports of US liquified natural gas and soybeans from the US, while Trump's threats of a 25% tax on automotive imports didn't come to fruition... Like it ever was going to though.
The meeting saw global stock market indices rally and the risk currencies also catch a bid.
I've listed this one first because it clears the way for euro traders to focus on the ECB. I think that it was always going to be more about 'show' for the headlines that actual decisions being made at the time, but it is what it is.
This is such a huge part of the Trump presidency and essentially a marketing trick. With political decisions so highly scrutinised on social media, he's taking control of the narrative and leading the headlines rather than participating in them. New politics.
ECB decision
The big one.
There's plenty of content on ForexLive already for you to digest, with these two being Eamonn's most recent fundamental shares:
The European Central Bank meet this week - what to expect
I shared some of my own thoughts primarily from a technical analysis point of view yesterday:
Essentially the expectation is for a quiet summer meeting. The market is going to be waiting for Draghi to possibly give more of an explanation on what he actually meant by his 'through the summer' comments in the last statement.
In any of the previews I read, forecasts for the next ECB hike range from July to October. Throw in some communication troubles and Euro at the top of a technical range, there's still plenty of scope to make things interesting from a forex trading point of view.
