The first important news will arrive today half an hour before noon. In the UK, retail sales are expected to accelerate dramatically from 0.9% to 2.5% which will be a good help for strengthening the pound.
However, the main event of the day will be the ECB meeting on monetary policy after which the press conference of Mario Draghi will take place. There is no doubt that the regulator will leave the parameters of the current policy unchanged. Nevertheless, the head of the ECB is waiting for the timing of the beginning of the reduction of the quantitative easing program and raising interest rates. Given that inflation on Europe is slowing, it is almost certain that Mario Draghi will announce that the tightening of monetary policy is premature. This will have an extremely negative impact on the euro which has recently been growing amid expectations that the ECB will begin to normalize its monetary policy.
Shortly before the beginning of the press conference of the head of the ECB, the US will publish data on the number of applications for unemployment benefits. If the number of initial applications can be reduced from 247,000 to 245,000 then continuing claims should grow from 1,945,000 to 1,950,000. This will only slightly affect the picture of the day because the market's attention will be focused on Mario Draghi as soon as it comes out.
The EUR/USD currency pair, working out at a resistance level of 1.1600, went into the correction stage where it is likely to decrease to 1.440.
The GBP/USD currency pair, consolidating near the psychological level of 1.3000, slowed down against the background of good statistics on retail sales. Because of this, a growth to 1.3060 / 1.3085 is possible. Otherwise, we will continue to move within 1.3045 / 1.3000, forming a cluster at the lower boundary.