EURUSD Market Update 27 Apr 2023
Next week we will have multiple important economic announcements from both Europe and US such as CPI from Europe and Interest Rate Decisions from FOMC and ECB.
Next week we will have multiple important economic announcements from both Europe and US such as CPI from Europe and Interest Rate Decisions from FOMC and ECB.
After the ECB Interest Decision rate announcement last week, this week is US Federal Reserve’s turn to announce their FOMC Interest Decision Rate. Do you think US Fed will raise only 0.25% as per the market’s consensus?
This coming week will have US CPI and PPI announcements while from the Europe side, there will be an interest rate decision from European Central Bank(ECB). Let’s review EURUSD and have a game plan for this upcoming announcement.
This coming week will be an interesting and volatile week as both US Federal Reserve and European Central Bank (ECB) will announce their interest rate decision in the same week. In addition to that, Europe will also release its GDP, CPI, and inflation rate economic data.
This coming week will be a very interesting (or we should say a volatile week) week for EURUSD as there are many important economic announcements scheduled in the coming week as follows
It is time for us to be cautious again for the EURUSD market.
Last week, FOMC raised the interest rate by 0.75% as expected and the stock market was rally after the interest rate announcement, but then the market turn bearish again after Powell’s speech. Powell has turned down the market’s hope of slowing interest rate hikes and the USD turned strong before Friday.
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?
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.