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The next week promises to be extremely volatile and rfull of important economic events: 7 of the world’s largest central banks will hold their meetings, and we will see the publications of the latest inflation data from Canada, the UK, as well as the PMI indices of the Eurozone, the UK and US.
However the focus is likely to be on the Fed meeting and its decision on interest rates, which could have both a positive and negative impact on the dollar.
During the week 18.03.2024 – 24.03.2024, market participants will also pay attention to the publication of important macro statistics from China, New Zealand, Australia, and Canada.
Note: During the coming week, new events may be added to the calendar and / or some scheduled events may be cancelled. Time is GMT
Monday, March 18
02:00 CNY Industrial production. Retail sales index
The China National Bureau of Statistics Industrial Production Data Report shows the output of Chinese industrial enterprises such as factories and production facilities. The growth of the indicator (industrial production) is a positive factor for the yuan also indirectly signaling the possibility of accelerating inflation rates, which could put pressure on the People’s Bank of China to tighten monetary policy.
Conversely, a decrease in the indicator could have a negative impact on the yuan.
Previous values (annualized): +6.8%, +6.6%, +4.5%, +3.7%, +4.4%, +3.5%, +5.6%, +3.9%, +2.4% (in February 2023).
Forecast for February: +4.9% (annualized).
Retail Sales Index is published monthly by the National Bureau of Statistics of China and measures total retail sales and cash receipts. The index is often considered an indicator of consumer confidence and economic well-being and reflects the health of the retail sector in the near term. A rise in the index is usually a positive for the CNY; a decrease in the indicator will have a negative impact on the CNY. Previous index value (in annual terms): +7.4%, +10.1%, +4.6%, +2.5%, +3.1%, +12.7%, +18.4% , +10.6%, +3.5%, -1.8%, -5.9% (after an increase of +8% in the last months of 2019 and a fall of -20.5% in February 2020).
Data indicate a continued recovery in this sector of the Chinese economy after a strong decline in February–March 2020. If the data turns out to be weaker than the forecast or previous values, the CNY may weaken.
Forecast for February: +5.3% (annualized).
Tuesday, March 19
After 01:00 (exact time unknown): JPY Bank of Japan’s interest rate decision. Bank of Japan’s press conference and monetary policy statement
The Bank of Japan will decide on the interest rate. Currently, the main rate in Japan is in negative territory at -0.1%. Most likely, the rate will remain at the same level. If it is cut and goes deeper into negative territory, such a decision will cause a sharp decline in the yen in the foreign exchange market and growth in the Japanese stock market. In any case, during this period of time a jump in volatility in yen quotes and in the Asian financial market is expected.
Since February 2016, the Bank of Japan has kept the deposit rate at -0.1%. The 10-year yield target is currently hovering around 0%. One of the recent accompanying statements from the Bank of Japan said that the bank’s management will continue to “increase the monetary base until inflation is consistently above 2%.” “We will not hesitate to take additional easing measures if necessary,” the bank’s statement also traditionally said.
During the press conference, head of the Bank of Japan Kazuo Ueda will comment on the bank’s monetary policy. The Bank of Japan continues to adhere to its ultra-loose monetary policy. As the former head of the Japanese Central Bank Haruhiko Kuroda has repeatedly stated previously, “it is appropriate for Japan to patiently continue the current loose monetary policy.” Markets usually react noticeably to the speeches of the head of the Bank of Japan. He is likely to touch on the topic of monetary policy during his speech, which will cause increased volatility not only in trading in the yen but also throughout the Asian and global financial markets.
If bank officials decide that Japan’s economy is stable and inflation momentum toward the 2% target is not slowing, they will refrain from changing policy.
03:30 AUD RBA’s interest rate decision. RBA’s accompanying statement
The main negative factors for the Australian economy are weak wages growth, a weak labor market and a slowdown in growth rates. However, Australia’s economic recovery is accelerating. To contain inflation, which has reached a 20-year high (in the 1st quarter of 2022, headline annual consumer price inflation in Australia was 5.1% and core inflation was 3.7%), the rate was increased by 0.25%, to 0.35% and then to 0.85%, 1.85%, 3.10% (in December 2022), 3.85% in May 2023. In addition, the RBA signaled the likelihood of further increases in the coming months.
“The board will do whatever is necessary to ensure that inflation in Australia returns to target over time,” said then-central bank governor Philip Lowe. “This will require further interest rate increases in the future.”
The RBA forecasts that the unemployment rate could fall to 50-year lows next year. “Given the progress towards full employment and data on prices and wages, some tapering of the emergency monetary support provided during the pandemic is appropriate,” Lowe said.
However, at the meeting in November 2023, the RBA leaders again raised the interest rate to 4.35%. It is not yet entirely clear what the decision of the RBA leaders will be this time, although it is possible that at this meeting the Central Bank of Australia will raise the interest rate again.
The RBA officials are widely expected to pause again.
In an accompanying statement, the RBA leaders will explain the reasons for the rate decision. If the RBA signals the possibility of easing monetary policy in the near future, then the risks of a fall in the Australian dollar will increase. Conversely, tough rhetoric of the RBA’s accompanying statement could provoke a strengthening of the Australian dollar.
04:30 AUD Press conference of the RBA
During the press conference, the RBA head Michelle Bullock will assess the current situation in the Australian economy and will likely reveal the monetary policy plans of the department entrusted to her. Market participants would also like to hear Bullock’s views on central bank policy amid recessions across the world and high inflation in Australia.
Any signals from her regarding plans to change the parameters of the RBA’s monetary policy will cause a sharp increase in volatility in the AUD and in the Australian stock market. If the head of the Central Bank of Australia does not touch upon the topic of monetary policy, the market reaction to her speech will be weak.
After 05:00 (exact time unknown) JPY Press conference of the Bank of Japan
During the press conference, head of the Bank of Japan Kazuo Ueda, who replaced Haruhiko Kuroda in this post in April 2023, will comment on the bank’s monetary policy. Despite the bank’s earlier measures to stimulate the Japanese economy, inflation remains low, production and consumption are falling, which has a negative impact on export-oriented Japanese manufacturers. Markets usually react noticeably to the speeches of the head of the Japanese Central Bank. If he brings up monetary policy during his speech, volatility will increase not only in the yen trading, but throughout Asian and global financial markets.
12:30 CAD Consumer price indices in Canada
Consumer Price Index (CPI) reflects the dynamics of retail prices of the corresponding basket of goods and services, and the core indicator (Core CPI) does not take into account fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transport, and tobacco products. The inflation target for the Bank of Canada is in the range of 1% – 3%. An increase in the CPI indicator is a harbinger of a rate increase and a positive factor for the CAD.
Previous values:
- Consumer Price Index: 0% (+2.9% in annual terms), -0.3% (+3.4% in annual terms), +0.1% (+3.1% in annual terms), + 0.1% (+3.1% in annual terms), -0.1% (+3.8% in annual terms), +0.4% (+4.0% in annual terms), +0, 6% (+3.3% in annual terms), +0.1% (+2.8% in annual terms),
- Core Consumer Price Index (from the Bank of Canada): +0.1% (+2.4% in annual terms), -0.5% (+2.6% in annual terms), +0.1% (+2 .8% in annual terms), +0.3% (+2.7% in annual terms), -0.1% (+2.8% in annual terms), +0.1% (+3.3 % in annual terms), +0.5% (+3.2% in annual terms), -0.1% (+3.2% in annual terms).
If the expected data turns out to be worse than previous values, this will negatively affect the CAD. Data better than previous values will strengthen the Canadian dollar.
Wednesday, March 20
01:15 CNY People’s Bank of China’s interest rate decision
Since May 2012, the People’s Bank of China has been steadily cutting interest rates to support Chinese manufacturers. The bank last lowered the rate in August 2023 (by 0.1% to 3.45% currently).
Starting around 2021, the world’s largest central banks began to tighten their monetary policies amid rising inflation. What will the Chinese Central Bank do this time after policy easing and pauses starting in September 2023?
It is likely that at this meeting the People’s Bank of China will keep the interest rate at the same level of 3.45%, although other decisions are not off the table.
If the People’s Bank of China makes unexpected statements, volatility may increase throughout the financial market, especially in Asia. Investors will also be interested in the bank’s assessment of the prospects for the Chinese economy and its policies in the near future in this regard.
07:00 GBP Consumer Price Index. Core Consumer Price Index
Consumer Price Index (CPI) reflects the dynamics of retail prices for a group of goods and services included in the British consumer basket. The CPI index is a key indicator of inflation. Its publication, causes active movement of the pound in the foreign exchange market, as well as the London Stock Exchange FTSE100 index.
In the previous reporting month (January), consumer inflation fell by -0.6%, but increased by +4.0% yoy after +0.4% (+4.0% yoy) in December. The data suggests that inflationary pressures still remain in the UK, which is likely to support the pound, especially if the data turns out to be higher than expected.
An indicator value below the forecast/previous value could trigger a weakening of the pound, as low inflation will force the Bank of England to maintain a loose monetary policy.
Core Consumer Price Index (Core CPI) is published by the Office for National Statistics and measures changes in the prices of a selected basket of goods and services (excluding food and energy) over a given period. It is a key indicator for assessing inflation and changes in consumer preferences. A positive result strengthens the GBP, a negative result weakens it.
In January, the growth rate of Core CPI remained unchanged amounting to +5.1% (in annual terms), the same as in December and November, after growth of +5.7% +6.1%, +6.2% in 3 months previously. It is likely that the publication of the indicator will have a short-term positive impact on the pound if its value is higher than the forecast and previous values. An indicator value below the forecast and/or previous values may trigger a weakening of the pound.
15:00 EUR Consumer confidence index
This is a report from the European Commission containing the results of a survey of European households, which asks respondents to assess the level of current and future economic conditions and the overall economic situation, including overall livelihoods, income growth, employment and willingness to make major purchases. European consumers’ confidence in economic development and the stability of their economic situation is a leading indicator of consumer spending, which accounts for the majority of overall economic activity. A high level of consumer confidence indicates economic growth, while a low level indicates stagnation. Previous indicator values: -15.5, -16.1, -15.1, -16.9, -17.9, -17.8, -16.0, -15.1, -16.1, -17 ,4, -17.5, -19.1, -19.0, -20.6, -22.0, -23.7. An increase in the indicator will strengthen the euro, and a decrease in the value will weaken the EUR.
18:00 USD The Fed’s interest rate decision. Fed monetary policy statement. Summary of Economic Projections by the Federal Open Market Committee
In 2020, the dollar declined because investors withdrew funds from protective assets to buy riskier and more profitable assets of the stock market, which continued to grow despite the threat of a second wave of the coronavirus epidemic and the associated economic slowdown. The role of the dollar as a defensive asset was also declining. However, in 2021 the situation changed – the dollar strengthened.
Now market participants are waiting for the US central bank to begin a monetary policy easing cycle. Economists’ wildest predictions are that the Fed will begin cutting interest rates in May 2024.
However, there is also the possibility of another rate hike this year if inflation starts to rise again, as the Fed Chairman Jerome Powell has repeatedly warned about.
For now, the rate is widely expected to remain unchanged at 5.50% at this meeting.
During the publication of the rate decision, volatility may rise sharply throughout the financial market, primarily in the American stock market and in dollar quotes, especially if the rate decision differs from the forecast or unexpected statements are made by the Fed leaders.
Powell’s comments could impact both short- and long-term USD trading. A more hawkish stance on Fed monetary policy is seen as positive and strengthens the US dollar, while a more cautious stance is seen as negative for the USD. Investors want to hear Powell’s thoughts on the Fed’s future plans for this year and next.
Traders will also pay attention to the Fed’s report with projections for interest rates, inflation and economic growth for the next two years and, no less important, the individual opinions of the FOMC members on interest rates.
18:30 USD Press conference of the FOMC (United States Federal Open Market Committee)
The press conference of the US Federal Open Market Committee lasts about an hour. The first part reads the ruling followed by a series of questions and answers that could increase market volatility. Any unexpected statements by Powell on the Fed’s monetary policy will cause increased volatility in dollar quotes and the American stock market.
21:45 NZD New Zealand Q4 GDP
The release of the data will cause increased volatility in the NZD. Given the recent rise in commodity and agricultural prices (especially dairy, which is a key component of New Zealand’s exports), and the fact that New Zealand has been least affected by the coronavirus pandemic compared to other large economies, it is likely that the New Zealand GDP report for the 4th quarter of 2023 will be released with positive indicators.
Previous values (annualized): -0.6%, +1.8%, +2.2%, +2.3%, +6.4%, +0.3%, +1.0%, +3.0% (in the 4th quarter of 2022).
The data remains inconsistent, although it points to a halt in the gradual recovery of the New Zealand economy in the third quarter of 2023 after its collapse in the first half of 2020. Data worse than previous values will have a negative impact on the NZD quotes.
Thursday, March 21 Марта
00:30 AUD Employment level. Unemployment rate
The employment rate reflects the monthly change in the number of employed Australians. The growth of the indicator has a positive impact on consumer spending, which stimulates economic growth. A high value of the indicator is a positive factor for AUD, and a low value is a negative factor. Previous indicator values: +500 in February, -65100 in January 2024, +61500 in December 2023, +55000 in October, +6700 in September, +64900 in August, -14600 in July, +32600 in June, +75900 in May, -4300 in April, +53000 in March, +64600 in February, -11500 in January, +14600 in December, +64000 in November, +32200 in October, +900 in September, +33500 in August, -40900 in July, +88400 in June, +60600 in May, +4000 in April, +17900 in March, +77400 in February, +12900 in January 2022.
Also at the same time, the Australian Bureau of Statistics will publish a report on the unemployment rate – an indicator that assesses the ratio of the unemployed population to the total number of working-age citizens. An increase in the indicator indicates a weak labor market, which leads to a weakening of the national economy. A decrease in the indicator is a positive factor for the AUD.
Forecast: unemployment in Australia remained at its lowest levels in February at 4.0% (against 4.1% in January, 3.9% in December and November, 3.7% in October, 3.6% in September, 3 .7% in August and July, 3.5% in June, 3.6% in May, 3.7% in April, 3.5% in March and February, 3.7% in January, 3.5% in December, 3.4% in November and October, 3.5% in September and August, 3.4% in July, 3.5% in June, 3.9% in May and April, 4.0% in March and February, 4.2% in January), and employment increased.
The RBA leaders have previously repeatedly stated that in addition to the situation in international trade, the Australian economy and the central bank’s monetary policy plans are influenced by the level of debt and household spending, the growth of workers’ wages, as well as the state of the country’s labor market. If the indicators turn out to be worse than forecast, the Australian dollar may decline significantly in the short term. Better-than-forecast data will strengthen the AUD in the short term.
08:30 CHF SNB’sdecision on interest rates. SNB’s monetary policy statement
Before the June 2022 SNB meeting, the current deposit rate was in negative territory and amounted to -0.75%. However, following this meeting of the central bank, the rate was raised to -0.25%.
In an accompanying statement, head of the Swiss National Bank Thomas Jordan noted that the Swiss franc is no longer grossly overvalued and that “tighter monetary policy aims to prevent inflation from becoming more widespread in Switzerland.”
The franc has recently become a popular safe haven asset again, but the threat of intervention is certainly keeping the franc from rising too high. According to SNB leaders, intervention in the foreign exchange market remains “an important means of maintaining the low attractiveness of investments in francs and easing upward pressure on the currency.”
It is widely expected that at the late March 2024 meeting, the deposit rate will be kept at 1.75%, the same as in December and September 2023.
Traders will also be carefully studying the SNB’s statement to pick up signals regarding the SNB’s future monetary policy plans. Tough rhetoric of the statement will help strengthen the franc. A soft tone and tendency to resume the extra soft monetary policy of the SNB will negatively affect the franc. High volatility is expected in the foreign exchange market and, above all, in the franc trading if the leaders of the National Bank make unexpected statements.
08:30 EUR Manufacturing and services PMI of the German economy according to S&P Global. Composite PMI according to S&P Global (preliminary release)
Manufacturing and services PMIs are important indicators of business conditions and the overall health of the German economy. These economic sectors form a significant part of Germany’s GDP. A result above 50 is seen as positive and strengthens the EUR, while a result below 50 is negative for the euro. Data worse than the forecast and/or the previous value will have a negative impact on the euro.
Previous values:
- Manufacturing PMI: 42.5, 45.5, 43.3, 40.8, 39.6, 38.8, 40.6, 43.2, 44.5, 44.7, 46.3, 47 ,3, 47.1, 46.2, 45.1, 47.8, 49.1, 49.3, 52.0, 54.8, 54.6,
- Services PMI: 48.3, 47.7, 45.7, 48.2, 50.3, 52.3, 54.1, 57.2, 56.0, 53.7, 50.9, 50 ,7, 49.2, 46.1, 46.5, 45.0, 47.7, 49.7, 52.4, 55.0, 57.6, 56.1, 55.8,
- Composite PMI: 46.3, 47.0, 47.4, 45.9, 46.4, 48.5, 50.6, 53.9, 54.2, 52.6, 50.7, 49.9 , 49.0, 46.3, 45.1, 45.7, 46.9, 48.1, 51.3, 53.7, 54.3, 55.1, 55.6.
09:00 EUR Eurozone manufacturing and services PMI of the German economy according to S&P Global. Eurozone Composite PMI according to S&P Global (preliminary release)
The Eurozone Manufacturing and Services PMI is important indicators of the health of the entire European economy. A result above 50 is seen as positive and strengthens the EUR, while a result below 50 is negative for the euro. Data worse than the forecast and/or the previous value will have a negative impact on the euro.
Previous values:
- Manufacturing PMI: 46.5, 46.6, 44.4, 43.1, 47.2, 42.7, 43.4, 44.8, 45.8, 47.3, 48.5, 48 .8 (in January 2023),
- Services PMI: 50.2, 48.4, 48.8, 47.8, 48.7, 50.9, 52.0, 55.1, 56.2, 55.0, 52.7, 50 .8 (in January 2023),
- Composite PMI: 49.2, 47.9, 47.6, 46.5, 47.2, 48.6, 52.8, 54.1, 53.7, 52.0, 50.3, 49.3 (in January 2023).
09:00 CHF Press conference of the SNB
After the publication of the rate decision, a press conference of the Swiss National Bank will begin. During the conference and the speech of SNB Chairman Thomas Jordan, the volatility of CHF trading increases, and traders are waiting for signals regarding the further plans of the SNB monetary policy. Tough rhetoric of Jordan’s speech will help strengthen the franc. A soft tone of the speech and the SNB’s tendency to pursue a soft monetary policy will have a negative impact on the franc.
High volatility is expected in the foreign exchange market and, above all, in the franc trading.
09:30 GBP UK manufacturing and services PMI of the German economy according to S&P Global. UK Composite PMI according to S&P Global (preliminary release)
The UK Manufacturing and Services PMIs are important indicators of the health of the UK economy. The services sector employs the majority of the UK’s working population and contributes approximately 75% of GDP. The most important part of the services industry is still financial services. If the data turns out to be worse than the forecast and the previous value, the pound will most likely decline sharply in the short term. Data better than the forecast and the previous value will have a positive impact on the pound. At the same time, a result above 50 is considered as positive and strengthens the GBP, while a result below 50 is negative for the GBP.
Previous values:
- Manufacturing PMI: 47.5, 47.0, 46.2, 44.8, 44.3, 45.3, 46.5, 47.1, 47.8, 47.9, 49.3, 47 ,0, 45.3, 46.5, 46.2, 48.4,
- Services PMI: 53.8, 54.3, 53.4, 49.5, 49.3, 51.5, 53.7, 55.2, 55.9, 52.9, 53.5, 48 ,7, 49.9, 48.8, 48.8, 50.0, 50.9, 52.6,
- Composite PMI: 53.0, 52.9, 52.1, 48.7, 48.5, 50.8, 52.8, 54.0, 54.9, 52.2, 53.1, 48.5 (in January 2023).
12:00 GBP Bank of England’s interest rate decision. Minutes of the meeting of the Bank of England. Planned volume of asset purchases by the Bank of England. Monetary Policy Report
Following its December 2021 meeting, the Bank of England unexpectedly raised its key interest rate to 0.25%, thus becoming the first leading central bank to increase borrowing costs since the outbreak of the coronavirus pandemic. In February, the interest rate was increased to 0.50%, in March – to 0.75%, in May – to 1.00%, in December – to 3.50%, and in August 2023 – to 5.25%. Members of the Monetary Policy Committee considered raising borrowing costs in a strong labor market to curb price increases to be appropriate. At the same time, further tightening of monetary policy may be required to bring inflation to the target level of 2.0%.
It is expected that at this meeting the Bank of England will again take a pause in increases despite the high level of inflation in the country and the positive macro data coming from the UK, given the difficult geopolitical situation in Europe, in particular in Ukraine. Such a decision could cause the pound to weaken.
Also at this time, the minutes of the Monetary Policy Committee (MPC) of the Bank of England are published with the breakdown of votes for and against raising/lowering the interest rate. The main risks for the UK after Brexit are related to expectations of a slowdown in the country’s economic growth, as well as a large current account deficit in the UK’s balance of payments.
Intrigue about the Bank of England’s further actions remains. There are plenty of trading opportunities in the pound and the FTSE100 index futures trading during the period when the bank’s decision on rates is published.
Also at the same time, the Bank of England publishes its monetary policy report containing an assessment of the economic outlook and inflation. At this time, volatility in pound quotes may increase sharply. One of the main benchmarks for the Bank of England regarding the outlook for monetary policy in the UK, in addition to GDP, is the rate of inflation. If the tone of the report is soft, the British stock market will receive support and the pound will decline. Conversely, the report’s tough rhetoric on curbing inflation implying further interest rate hikes in the UK will lead to a stronger pound.
13:45 USD Manufacturing PMI. Composite PMI (from S&P Global) (preliminary releases)
PMI business activity indices prepared by S&P Global are important indicators of the state of the American economy as a whole. A result above 50 is considered positive and strengthens the USD, while a result below 50 is considered negative for the US dollar.
Previous PMI indicator values:
- Manufacturing PMI: 52.2, 50.7, 47.9, 50.0, 49.8, 49.0, 46.3, 48.4, 50.2, 47.3, 46.9, 46, 2, 47.7, 50.4, 52.0, 51.5,
- Composite PMI: 52.5, 52.0, 50.9, 50.7, 50.2, 52.0, 53.2, 54.3, 53.4, 52.3, 50.1, 46.8 ( in January 2023).
23:30 JPY National Consumer Price Index
The largest portion of overall inflation comes from consumer prices. If prices rise, the Central Bank is forced to raise interest rates to curb inflation. In the opposite cases, when inflation decreases or there are signs of deflation (when the purchasing power of money increases and the prices of goods and services fall), the Central Bank usually seeks to devalue the national currency, lowering interest rates to stimulate aggregate demand.
The National Consumer Price Index (CPI) is a key indicator for assessing inflation and changing consumer preferences in Japan.
A high value of this indicator is favorable for the Japanese Yen (JPY), while a low value represents a negative (bearish) factor.
Previous values (annualized):
- CPI: +2.2%, +2.6%, +2.8%, +3.3% +3.2%, +3.5%, +3.2%, +3.3%, + 4.3% (in January 2023),
- Core CPI (excluding food and energy prices): +3.5%, +3.7%, +3.8%, +4.0%, +4.2%, +4.3%, +4.3% , +4.2%, +4.3%, +4.1%, +3.8%, +3.5%, +3.2% (in January 2023)
Friday, March 22
07:00 GBP Retail sales
The Retail Sales indicator tracks the level of consumer demand and is the most important indicator influencing the market and quotes of the national currency. It is also an indirect indicator of inflation, thus being of interest both to the country’s central bank and to market participants.
The Retail Sales Report is produced by the UK Office for National Statistics. Changes in retail sales are generally considered an indicator of consumer spending. In general, a high indicator is a positive factor for the GBP, while a low value is a negative factor.
Previous index values: +0.7%, -2.4% (in January 2024), +1.3% (in December 2023), 0%, -1.1%, +0.4%, – 1.1%, +0.6%, +0.1%, +0.5%, -1.2%, +1.0%, +1.3 (in January 2023) and +0.1%, -2.5%, -1.0%, -1.3%, -3.1%, -1.6%, -2.3%, -3.4%, -3.9%, -3.5%, -5.2 (in January 2023) in annual terms.
13:45 USD US Services PMI according to S&P Global (preliminary release)
PMI business activity indices in the most important sectors of the US economy prepared by S&P Global are important indicators of the state of the American economy as a whole. A result above 50 is considered positive and strengthens the USD, while a result below 50 is considered negative for the US dollar.
Previous PMI indicator values:
- Services PMI: 52.3, 52.5, 51.4, 50.6, 50.1, 52.3, 54.4, 54.9, 53.6, 50.6, 46.8, 44, 7, 46.2, 47.8, 49.3, 43.7, 47.3, 52.7, 53.4, 55.6.
Price chart of EURUSD in real time mode
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