Euro loses ground | 29 Maret 2024

29 Maret 2024, EUR/USD

Euro loses groundEvent to watch out for today:

15:30 EET. USD - Core PCE Price Index

18:30 EET. USD - Federal Reserve Chairman Jerome Powell Speaks

EURUSD:

The EUR/USD pair continues to decline for the fourth consecutive day, driven by a strengthening US Dollar (USD), influenced by hawkish market sentiment related to the Federal Reserve (Fed) and expectations of a prolonged interest rate hike. This shift in sentiment is supported by recent strong economic data from the United States (USD). EUR/USD is down to 1.0775 during Asian trading on Friday.

Comments from Fed chief Christopher Waller on Wednesday hinted at a possible postponement of interest rate cuts given the strong inflation data. Investors now await Friday's release of the U.S. personal consumption expenditures (PCE) report, which serves as the Fed's preferred inflation gauge, for further insights and guidance.

U.S. gross domestic product (GDP) grew at an annualized rate of 3.4% in the fourth quarter of 2023, beating market expectations that expected growth to remain unchanged at 3.2%. The U.S. Gross Domestic Product Price Index was unchanged at 1.7%, matching expectations for Q4.

The Euro struggled after remarks from European Central Bank (ECB) Governor Francois Villeroy. Villeroy noted the rapid decline in core inflation, although it remains high. He suggested that the ECB's 2% inflation target is achievable, but warned of increased downside risks if the ECB refrains from cutting rates.

Trading recommendation: Trade mainly with Sell orders from the current price level.

FreshForex offers a wonderful 300% bonus on every deposit of $100 or more, giving you the opportunity to increase your trading volumes!

David Johnson
Analyst of «FreshForex» company
Setuju dengan review?
opini pedagang:
Close
Masuk
Browser Anda tidak mendukung kue. Jika cookie dinonaktifkan di browser Internet Anda, Anda mungkin memiliki masalah dengan render daerah Pribadi. Cara mengaktifkan dukungan cookie.
manager photo manager photo
Online-support
Dengan senang hati, kami akan menjawab pertanyaan Anda

Tulis

Get bonus