Alexia greets everyone!
Today, the EUR/USD is witnessing a slight recovery on Friday, halting trading at 1.0684, receiving support from a cooling US dollar (USD) after a week of stable gains that caused the Euro (EUR) to drop nearly a whole percentage point from its Monday high of 1.0756.
Next week, we will see the EU's Gross Domestic Product (GDP) figures on Tuesday, followed by the United States' Consumer Price Index (CPI) inflation data. With the hawkish stance of the Fed and the market's newfound focus on central bank reports, any deviations from the forecasts in next week's growth and inflation figures will have an amplified impact. Therefore, it would not be surprising if prices continue to decline in the coming week.
Today, the EUR/USD is witnessing a slight recovery on Friday, halting trading at 1.0684, receiving support from a cooling US dollar (USD) after a week of stable gains that caused the Euro (EUR) to drop nearly a whole percentage point from its Monday high of 1.0756.
Next week, we will see the EU's Gross Domestic Product (GDP) figures on Tuesday, followed by the United States' Consumer Price Index (CPI) inflation data. With the hawkish stance of the Fed and the market's newfound focus on central bank reports, any deviations from the forecasts in next week's growth and inflation figures will have an amplified impact. Therefore, it would not be surprising if prices continue to decline in the coming week.
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CME Group's Fedwatch tool shows that the markets are still pricing 90% of the Fed possibility that the Fed will keep the policy interest rate in December.
