The EUR/USD is shifting higher to kick off the new trading week, claiming ground that was recently lost in last week’s backslide. The Euro (EUR) has m
at 5.5%, but investors will be keeping a close eye on the Fed’s ‘dot plot’ and inflation expectations, as well as looking for any forward-looking indications during the Federal Open Market Committee press conference. The Fed’s rate call drops at 18:00 GMT on Wednesday, with the press conference slated for half an hour later at 18:30.
Both releases are expected to be medium impact and market participants will largely be focused on Friday’s Purchasing Manager Indexes for both the EU and the US. is forecast to slide from 47.9 to 47.8, while the services component is expected to tick down to 50.3 from 50.5.pair has closed bearish for the past nine consecutive weeks, and daily candlesticks have the pair firmly on the downside.
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