EURUSD slide extends nearly three weeks of decline. EURUSD price hit a low of 1.08023 ahead of Eurozone inflation data and Fed policy.
Looking at price history backward, the decline in EURUSD started July 17 and there is still potential to extend the decline.
This month the Fed predicted to hold interest rates unchanged, a cut is expected at the end of this year around September.
The Federal Funds Rate will be released Thursday, predicted to be unchanged in the range of 5.25%-5.50%. Therefore, investors will focus on Fed Chair Jerome Powell's monetary policy statement and press conference to get fresh clues on rate cuts.
Today's important economic data in the European zone, German CPI is forecast to rise 0.3% from the previous revision of 0.1%. French flash GDP is forecast unchanged at 0.2% as per previous revision data.
Meanwhile, in today's US economic data, CB Consumer Confidence is expected to fall by 99.7 from the previous revision of 100.4. Meanwhile, new job openings are predicted to fall by 8.02 M from the previous revision of 8.14 M.
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Looking at price history backward, the decline in EURUSD started July 17 and there is still potential to extend the decline.
This month the Fed predicted to hold interest rates unchanged, a cut is expected at the end of this year around September.
The Federal Funds Rate will be released Thursday, predicted to be unchanged in the range of 5.25%-5.50%. Therefore, investors will focus on Fed Chair Jerome Powell's monetary policy statement and press conference to get fresh clues on rate cuts.
Today's important economic data in the European zone, German CPI is forecast to rise 0.3% from the previous revision of 0.1%. French flash GDP is forecast unchanged at 0.2% as per previous revision data.
Meanwhile, in today's US economic data, CB Consumer Confidence is expected to fall by 99.7 from the previous revision of 100.4. Meanwhile, new job openings are predicted to fall by 8.02 M from the previous revision of 8.14 M.
View attachment 7232
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