The US Dollar slides in response to the FOMC November meeting. Risk appetite and lower yields put pressure on the Greenback. The EUR/USD rebounds back towards the 20-day SMA. 0570 level. This upward movement was primarily influenced by a broad-based weakness in the US Dollar. Although the Euro is not entirely out of a challenging situation, it managed to hold above a significant support level, and shows potential for further gains as the Asian session approaches.
Despite the data releases and the statements from the FOMC and Powell, the impact on the market has been limited. The overall tone remains essentially unchanged. The US Dollar lost momentum as US yields declined further, while stock markets on Wall Street extended weekly gains. If the US Dollar continues to weaken, the EUR/USD could extend its upside momentum, potentially surpassing not only 1.0600 but also moving higher.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
EUR/USD Price Forecast: Euro Looks Vulnerable as All Eyes Shift to FOMCEUR prices open on the backfoot this morning as attention shifts towards the Fed’s interest rate announcement.
Source: DailyFX - 🏆 305. / 63 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Nasdaq 100, EUR/USD Forecast: Fed Policy Outlook to Dictate Market TrendThe Fed's monetary policy guidance at its penultimate meeting of the year will help determine the short-term outlook for the Nasdaq 100 and EUR/USD. For this reason, traders should pay close attention to Powell's press conference on Wednesday.
Source: DailyFX - 🏆 305. / 63 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »