Last week, European Central Bank (ECB) raised the interest rate by 0.75% as per expected but Canada’s Central Bank, which is just next to the United States surprisingly raised its interest rate by 0.5% only, against the consensus of 0.75%. What will FOMC do in this coming Interest Rate Decision on 2 Nov 2022?
There is no FOMC meeting on Oct but European Central Bank’s(ECB) Interest Rate Decision is coming this week on 27 Oct 2022.
After ECB raised 0.75% of the interest rate last two weeks, this week is US Federal Reserve‘s turn to raise interest.
With more hawkish comments from US Federal Reserve members, the EURUSD dropped below parity again this week. Next week on 8th September 2022, it is again ECB (European Central Bank) Interest Rate announcement and we should expect it will be a volatile week for EURUSD.
EURUSD now is at a level that we have never seen before since 2003. We saw a few moments when EUR is lower than USD last week.
This week there will be a European Central Bank (ECB) Interest Rate Decision announcement on 21 Jul and next week there will be an FOMC Interest Rate Decision and Press Conference on 27 Jul.