EUR/USD remains pinned near lows as the attention turns to the Fed
- The Euro remains close to the 1.1600 support area, with upside attempts limited below 1.1650.
- Euro’s upside attempts remain frail with concerns about France’s political turmoil weighing.
- The focus will be on Fed Powell’s speech as the US shutdown delays economic data releases.
EUR/USD remains practically flat, right above one-month lows at 1.1600. The pair trades at 1.1615 at the time of writing, with upside attempts finding sellers, as France’s political uncertainty keeps investors on their toes. The focus now turns to the speeches of Federal Reserve (Fed) Chair Jerome Powell, who is expected to take the stage at a banking event in Washington.
Earlier on Thursday, New York Fed President John Williams showed support for further monetary easing in the coming months in an interview at The New York Times, endorsing market expectations of two more rate cuts this year. Williams stated that underlying inflation is moving gradually lower, while, in his opinion, signs of a slowdown in employment warrant attention.
In Europe, the European Central Bank’s Monetary Policy Meeting Accounts revealed an increasing concern about the uncertain global context, although policymakers consider that there is no immediate pressure to change the bank’s policy. Regarding inflationary risks the committee has shown some divergence, with some members observing upside risk to inflation while others see price pressures abating. The impact of the accounts on the Euro has been marginal.
- The Euro remains close to the 1.1600 support area, with upside attempts limited below 1.1650.
- Euro’s upside attempts remain frail with concerns about France’s political turmoil weighing.
- The focus will be on Fed Powell’s speech as the US shutdown delays economic data releases.
EUR/USD remains practically flat, right above one-month lows at 1.1600. The pair trades at 1.1615 at the time of writing, with upside attempts finding sellers, as France’s political uncertainty keeps investors on their toes. The focus now turns to the speeches of Federal Reserve (Fed) Chair Jerome Powell, who is expected to take the stage at a banking event in Washington.
Earlier on Thursday, New York Fed President John Williams showed support for further monetary easing in the coming months in an interview at The New York Times, endorsing market expectations of two more rate cuts this year. Williams stated that underlying inflation is moving gradually lower, while, in his opinion, signs of a slowdown in employment warrant attention.
In Europe, the European Central Bank’s Monetary Policy Meeting Accounts revealed an increasing concern about the uncertain global context, although policymakers consider that there is no immediate pressure to change the bank’s policy. Regarding inflationary risks the committee has shown some divergence, with some members observing upside risk to inflation while others see price pressures abating. The impact of the accounts on the Euro has been marginal.
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