23 Tháng Chín 2024, EUR/USD
Event to watch out for today:
11:00 GMT+3. EUR - Composite PMI
16:45 GMT+3. USD - Composite PMI
EURUSD:
The Euro-dollar pair maintains its position around 1.1160 during the Asian hours on Monday. The US dollar (USD) may depreciate after the increased likelihood of further interest rate cuts by the Federal Reserve (Fed) in 2024, which could support the EUR/USD pair.
Last week, the US Federal Reserve cut interest rates by a larger than usual 50 basis points to a range of 4.75-5.00%. Policymakers also predicted another 75 basis points (bps) of rate cuts before the end of the year.
However, Fed Chairman Jerome Powell said in a press conference after the meeting that the Fed was in no rush to ease policy and emphasized that a half-percentage point rate cut was not a “new pace.”
On Friday, Philadelphia Fed President Patrick Harker said the U.S. central bank has effectively managed a difficult economic environment in recent years. Harker compared monetary policy to driving a bus, where it is important to keep a balance of speed. He also emphasized that achieving maximum employment is not only about the quantity of jobs, but also their quality.
Regarding the euro, European Central Bank (ECB) President Christine Lagarde emphasized in her speech on Friday that monetary policy must remain adaptable in an ever-changing world. While the main objectives of monetary policy, particularly price stability, remain unchanged, central banks must remain flexible to respond to the challenges of a rapidly changing global economy, Euronews reported.
Trading recommendation: Watch the level of 1.1150, on fixation below take Sell positions, on the rebound take Buy positions.
Up to $20 for each lot in real money - get a guaranteed income by connecting Cashback promotion!
en 
id 
ar 
ru 
es 
pt 
th 
kz 
ua 
tj 
uz 
az 
ms 