Forex Analysis by Investing.com (Damian Nowiszewski) covering: EUR/USD. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
The pair could challenge 1.12 resistance if the Fed opts for a 50 bp cut.a significant shift as the Fed kicks off a new cycle of rate cuts, with recent expectations favoring a substantial 50 basis point reduction.data released on Wednesday could influence the ECB's future monetary policy path. If it favors further rate cuts, it could set the stage forJust last week, the consensus pointed to a 25 bps cut, but sentiment has shifted toward a potential 50 bps move.
A 50 bps cut could negatively affect the US dollar and spark a stock market correction, depending on the accompanying tone from the Fed.Wednesday’s eurozone inflation figures are expected to reinforce the current outlook, leaving the ECB with little choice but to continue cutting rates. Now, buyers are eyeing a return to the 1.1150 zone, which could pave the way for a breakout toward the key 1.12 resistance. If bulls succeed in breaking through, the next major target will be the 2023 highs near 1.13.
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