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The pair heads towards the conclusion of a very bad month and week, due to cool-down in Fed hike expectations and the negative Q2 GPD print from the US
The pair is having a bad day, unable to build on Wednesday’s post-Fed rise, but covers some of its losses, helped by the greenback's negative reaction to the US GDP contraction
Australia’s Consumer Price Index hit the highest levels in two decades, but was a tad lower than expected and the pair is cautious, as markets brace for the Fed’s monetary policy decision
The British Pound shows some signs of exhaustion today, finding hard to extend its recent recovery past key technical levels, as markets brace for Wednesday’s Fed rate decision
The pair lost ground last week, as expectations around the Fed’s next move cooled down, but today it consolidates and tries to hold above key technical levels
ECB President Lagarde asserted the bank’s commitment to bringing down inflation over the weekend, in the aftermath of the hefty 0.5% rate lift-off, but the pair is cautious as markets brace for the Fed’s policy meeting
The European Central Bank raised rates for the first time since 2011 on Thursday, by more that it had previously pointed to, with the pair dropping today as EZ factory activity contracts
Despite the surprise 50bps hike, market interpretation of relative central bank aggressiveness will be critical in the EURUSD direction
The USDOLLAR has pulled back, but this may be a dip in the uptrend.
CPI Inflation accelerated 9.4% y/y in June as today’s data showed, aggravating cost-of-living fears, while the Pound consolidates it recent gains against the greenback
A Reuters report suggests that officials of the European Central Bank will discuss about raising rates by 25 or 50 bps, which sends the pair higher, whereas bets for an outsized move by the Fed cool down
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