The EUR/USD moved lower on Wednesday following the Federal Research report where the central bank left interest rates unchanged. The Fed announced that they would move forward with quantitative tightening which would amount to approximately 600 billion in reduction in the balance sheet each year moving forward. The FOMC signaled that another rate hike is … Continue reading EUR/USD Daily Technical Analysis for September 21, 2017
Euro zone government bond yields nudged down on Wednesday as investors awaited the conclusion of a U.S. Federal Reserve meeting for clues on whether another interest rate rise is likely this year. Caught between a lull in U.S. inflation and a stronger global economy, the Fed is expected to signal whether it will raise rates for a third time this year or back off until prices rise more briskly. What it says is important for the outlook for monetary policy in the euro zone, since any statement that points to another rate hike this year could lift the dollar against the euro.
The EUR/USD is trading higher shortly before the U.S. opening. Trading is surprisingly strong ahead of today’s Fed pronouncements. This may be because the European Central Bank is widely expected to say next month that it will begin scaling back its asset-purchase stimulus program from January, even though a stronger Euro, which dampens inflation, has … Continue reading EUR/USD Mid-Session Technical Analysis for September 20, 2017