comienzo
comercio

Principal >
Datos analíticos de Forex
>
Pronóstico Fresco
>
Forex Fundamental Analysis
>
Speculation on euro rate cuts

Speculation on euro rate cuts | 03 Abril 2024

03 Abril 2024, EUR/USD

Speculation on euro rate cuts

Events to watch out for today:

17:00 EET. USD - ISM Services Business Activity Index

19:10 EET. USD - Federal Reserve Chairman Jerome Powell to deliver speech

EURUSD:

EURUSD is holding on to small losses near 1.0775. The weakening of the US Dollar Index (DXY) below 105.00 has provided some support to the major pair. However, weaker German inflation data on Tuesday put pressure on the euro as it sparked speculation of a rate cut by the European Central Bank (ECB). Investors are awaiting new Eurozone inflation data for March and the US ISM Services PMI from the ISM to provide fresh impetus.

Dovish comments from many Federal Reserve (Fed) officials are putting pressure on the dollar. Cleveland Fed President Loretta Mester said Tuesday that she expects to cut rates this year but ruled out the possibility of another meeting in May. Meanwhile, San Francisco Fed President Mary Daly said she believes three rate cuts in 2024 is "reasonable," but she needs more convincing evidence to back that up. Futures traders expect the U.S. Fed to begin easing at its June meeting and cut rates by three-quarters of a percentage point by the end of the year.

German inflation fell slightly more than expected in March to the lowest in nearly three years, German statistics office Destatis said Tuesday. Germany's preliminary Harmonized Index of Consumer Prices (HICP) rose 0.6% in March from the previous month, slightly below forecasts for a 0.7% rise from the previous month. On a year-over-year basis, HICP rose 2.3%, below the market consensus forecast of 2.4%. The lower inflation rate indicates that Germany is getting closer to the European Central Bank's (ECB) 2% target, raising market hopes for an interest rate cut soon. This in turn puts pressure on the Euro (EUR) and creates a headwind for the EUR/USD pair.

Trading recommendation: Trade with buy orders when the price reaches 1.0800. Sell at the price level of 1.0750.

Connect 101% under drawdown and trade with double deposit! Bonus funds will help you increase your profits or withstand a sudden drawdown!

David Johnson
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión

Mostrar contraseña

Ocultar contraseña

 ¿Se te olvidó tu contraseña?
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.

Nuestros mejores premios:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.