EURUSD Insight
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As expected by the market, the ECB implemented a 25bp rate cut last week. While the Eurozone’s September consumer price index recorded 1.7%, the manufacturing PMI declined, which is being interpreted as the ECB shifting its focus from controlling inflation to protecting economic growth. The market expects the ECB to implement another 25bp rate cut in December.
In the U.S., Raphael Bostic, President of the Federal Reserve Bank of Atlanta, mentioned that the Fed doesn't need to rush returning to a neutral rate. Meanwhile, the market anticipates a 25bp rate cut from the Fed in November.
In Japan, Masato Kanda, the head of Japan’s currency diplomacy, recently indicated that the yen's movements have been somewhat one-sided and rapid. He also mentioned that Japanese authorities are closely monitoring foreign exchange movements, including speculative foreign capital, hinting at possible intervention by the authorities.
- October 24: U.S. Initial Jobless Claims, Service PMI
EUR/USD is currently in a short-term uptrend, with a rebound seen at the 1.08000 line, where the lower trendline is located. If the current upward momentum continues, a rise to the 1.14000 line, where the upper trendline is positioned, seems highly likely. However, if the 1.08000 line is broken and the price falls below the 1.07500 line, the uptrend will be disrupted, potentially leading to a decline toward the 1.04500 line.
If movements differ from expectations, we will quickly adjust our strategy.
Please feel free to share your personal opinions in the comments. Don’t forget to like and subscribe!
As expected by the market, the ECB implemented a 25bp rate cut last week. While the Eurozone’s September consumer price index recorded 1.7%, the manufacturing PMI declined, which is being interpreted as the ECB shifting its focus from controlling inflation to protecting economic growth. The market expects the ECB to implement another 25bp rate cut in December.
In the U.S., Raphael Bostic, President of the Federal Reserve Bank of Atlanta, mentioned that the Fed doesn't need to rush returning to a neutral rate. Meanwhile, the market anticipates a 25bp rate cut from the Fed in November.
In Japan, Masato Kanda, the head of Japan’s currency diplomacy, recently indicated that the yen's movements have been somewhat one-sided and rapid. He also mentioned that Japanese authorities are closely monitoring foreign exchange movements, including speculative foreign capital, hinting at possible intervention by the authorities.
- October 24: U.S. Initial Jobless Claims, Service PMI
EUR/USD is currently in a short-term uptrend, with a rebound seen at the 1.08000 line, where the lower trendline is located. If the current upward momentum continues, a rise to the 1.14000 line, where the upper trendline is positioned, seems highly likely. However, if the 1.08000 line is broken and the price falls below the 1.07500 line, the uptrend will be disrupted, potentially leading to a decline toward the 1.04500 line.
If movements differ from expectations, we will quickly adjust our strategy.
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cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
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