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In December, the dot plot showed that policymakers were forecasting a 75 basis points reduction in the policy rate in 2024. In case the new dot plot reaffirms that Fed officials are still favoring three 25 bps cuts in 2024, markets could lean toward a policy pivot in June. According to the CME FedWatch Tool, there is 36% probability that the Fed will leave the policy rate unchanged in June.
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EUR/USD Forecast: Hawkish ECB commentary helps Euro hold above key supportEUR/USD came within a touching distance of 1.0900 in the early American session on Tuesday but managed to erase its daily losses.
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EUR/USD Forecast: Euro needs to reclaim 1.0900 to attract bullsEUR/USD went into a consolidation phase after closing the previous week in negative territory.
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EUR/USD Forecast: Euro tests key support on broad USD strengthEUR/USD stays on the back foot and edges lower toward the 1.0850 area in the early European session on Tuesday, after closing in negative territory on Monday.
Source: FXStreetNews - 🏆 14. / 72 Read more »
EUR/USD Forecast: A visit to the 200-day SMA looms closerFurther upward bias in the Greenback weighed on the riskier assets, lending further legs to the US Dollar Index (DXY) and keeping the price action around EUR/USD subdued well below the 1.0900 support.
Source: FXStreetNews - 🏆 14. / 72 Read more »
EUR/USD Forecast: US Dollar surges after the first round of central banks’ decisionsThe EUR/USD pair fell to 1.0834 on Tuesday as the US Dollar gathered momentum following a busy Asian session.
Source: FXStreetNews - 🏆 14. / 72 Read more »