|Day's Range||1.177 - 1.186|
|52 Week Range||1.0348 - 1.2093|
Marius Gero Daheim, chief strategist for the euro zone at SEB, discusses his expectations for the European Central Bank's latest policy meeting.
David Bloom, HSBC's global head of FX strategy, and Reinhard Cluse, chief economist for Europe at UBS, discuss the U.K. economy.
Martin Lueck, chief investment strategist for Germany, Austria, Switzerland and Eastern Europe at Blackrock, discusses the European Central Bank.
Reinhard Cluse, chief economist for Europe at UBS, expects the European Central Bank to forecast roughly 1.6 percent growth for the euro zone in 2020.
CNBC's Silvia Amaro speaks to Mario Centeno, incoming Eurogroup president and Portuguese finance minister, about politics impacting reforms in Europe.
Based on the early trade, the direction of the EUR/USD the rest of the session will be determined by trader reaction to the major 50% level at 1.1823.
FOMC caused USD to weaken. The outcome of that is a buy signal on the EURUSD. This optimism is additionally supported by the double bottom formation, wedge pattern and a false breakout below the 1.173 support. What is more, we broke the 1.181 resistance and we are currently using that as a support. Buy signal at its finest.
The Federal Reserve increased their interest rate by a quarter of a point on Wednesday. The Bank of England and European Central Bank will release monetary policy statements today. The U.S Dollar has been weaker in forex. Retail Sales will come from the States and Britain today.
The Federal Reserve surprised no one when they hiked their interest rate by a quarter of point yesterday. The Pound and Euro responded with gains. The Bank of England and European Central Bank will release their monetary statement today.
The market yesterday was bit volatile as it tried to build some support area around the region ahead of the crucial Fed rate hike policy decision. Now, the Fed has hiked the interest rate by 25 basis points and is more hawkish on the future rate hike, the market is expected fall lower towards the 1.17 level. The market was very noisy ahead of the Fed rate hike policy decision in Wednesday’s session, as it rallied towards the 1.34 level with a support of 1.33 level.
The EUR/USD pair continues to very noisy, rallying slightly during the trading session on Wednesday as we await the Federal Reserve interest rate statement.
The euro gained due to the weakness of the dollar following a dovish Fed which hiked rates but sounded dovish for further hikes in 2018
European Union leaders are likely to decide on Friday to give priority in euro zone integration to completing its banking union and expanding the tasks of the euro zone bailout fund, leaving politically more difficult issues for later. Leaders of the EU's 27 countries that will remain in the bloc after Britain leaves in March 2019 will discuss ways to deepen euro zone integration on Friday, starting six months of detailed talks by finance ministers.
Based on the early action, trader reaction to the downtrending Gann angle at 1.1780 will determine the direction of the EUR/USD the rest of the session.
The volatility in the counter is mainly due to the Federal Reserve releasing its interest rate hike announcement later in the day today. A hawkish outlook will make this market to fall lower. This is mainly due to the Federal Reserve coming out with rate hike policy decision.
Forex has become very cautious the past day as traders await a slew of central bank announcements over the next day and a half. The Pound has been also affected by political concerns again in the U.K and Gold has essentially sat in place. The Pound has remained near the lower rungs of its short-term value as political concerns once again embattle the U.K landscape.