17 October 2024, EUR/USD
An event to look out for today:
15:15 GMT+3. EUR - ECB Interest Rate Decision
15:30 GMT+3. USD - Retail Sales
EURUSD:
The Euro-dollar pair continued to decline to the 1.0850 level in the early Asian session on Thursday. Further growth of the US dollar puts selling pressure on the main pair. Investors will keep a close eye on the European Central Bank (ECB) monetary policy meeting, which is expected to cut interest rates again on Thursday.
The Federal Open Market Committee (FOMC) took the unusual step of lowering the benchmark interest rate by half a percent to a target range of 4.75-5.00% at its September meeting.
Fed Chairman Christopher Waller said Monday that future interest rate cuts will be less aggressive than the big move in September because he is concerned that the economy could still be operating at a faster pace than expected. Later on Thursday, investors will focus on U.S. retail sales data, which is expected to rise to 0.3% in September from 0.1% in August.
Across the ocean, the ECB is likely to make its third interest rate cut in a year at its October meeting, and money markets are all but pricing in three more rate cuts through March 2025.
Trade recommendation: Watch the level of 1.0850, when fixing below consider Sell positions, when rebounding consider Buy positions.
Fund your account with cryptocurrency and you will receive up to 10% in balance on your first deposit. The additional funds will be used for trading, increasing trading volumes and helping you withstand drawdowns.
en 
id 
ar 
ru 
vn 
es 
pt 
th 
kz 
ua 
tj 
uz 
az 