EUR/USD Possible Correction Dawnwards
#market_pulse #currencies
😎 Hello everyone! With the start of a new trading week, here is some important information for your analysis.
☕️Dollar Holds Steady as Traders Eye Fed Outlook; Focus on ECB
▫️ Dollar: The dollar held firm on Monday, as investors grew confident that U.S. inflation may have slowed enough for the Federal Reserve to cut rates in 2024. The dollar index was up 0.1% at 104.67. Traders are now pricing in a 60% chance of a rate cut in September.
▫️ Euro: The euro edged down to $1.0844 ahead of the ECB policy meeting on Thursday, where a rate cut is expected. Markets are pricing in 57 basis points of cuts this year from the ECB.
▫️ Indian Rupee: The rupee, the best performing Asian currency this year, was last at 83.035 per dollar, buoyed by exit poll results suggesting a third term for Prime Minister Narendra Modi.
▫️ Mexican Peso: The peso weakened after the ruling party declared Claudia Sheinbaum the winner of the presidential election by a large margin.
▫️ Sterling: The pound fell 0.2% to $1.27215, influenced by ongoing economic projections and recalibration of rate expectations.
▫️ Japanese Yen: The yen was stable at 157.18 against the dollar, close to last week's four-week low of 157.715. Japan's monetary authorities have been actively intervening in the forex market to support the yen.
🌐 Key Developments to Watch:
ECB rate decision and economic projections
ISM manufacturing survey
U.S. payrolls data
Japanese intervention in the forex market
💵💵💵
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😎 Hello everyone! With the start of a new trading week, here is some important information for your analysis.
☕️Dollar Holds Steady as Traders Eye Fed Outlook; Focus on ECB
▫️ Dollar: The dollar held firm on Monday, as investors grew confident that U.S. inflation may have slowed enough for the Federal Reserve to cut rates in 2024. The dollar index was up 0.1% at 104.67. Traders are now pricing in a 60% chance of a rate cut in September.
▫️ Euro: The euro edged down to $1.0844 ahead of the ECB policy meeting on Thursday, where a rate cut is expected. Markets are pricing in 57 basis points of cuts this year from the ECB.
▫️ Indian Rupee: The rupee, the best performing Asian currency this year, was last at 83.035 per dollar, buoyed by exit poll results suggesting a third term for Prime Minister Narendra Modi.
▫️ Mexican Peso: The peso weakened after the ruling party declared Claudia Sheinbaum the winner of the presidential election by a large margin.
▫️ Sterling: The pound fell 0.2% to $1.27215, influenced by ongoing economic projections and recalibration of rate expectations.
▫️ Japanese Yen: The yen was stable at 157.18 against the dollar, close to last week's four-week low of 157.715. Japan's monetary authorities have been actively intervening in the forex market to support the yen.
🌐 Key Developments to Watch:
ECB rate decision and economic projections
ISM manufacturing survey
U.S. payrolls data
Japanese intervention in the forex market
💵💵💵
GET $20,000 JUST FOR $99
*** PERFECT20 (promo code)
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