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Instrument: EURUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1.10973 with take profit at 1.11146.
Bearish Preference:
A sell position is envisaged if the price trades below 1.10366 with take profit at 1.10232.
Fundamentals:
1:15pm EUR Main Refinancing Rate EUR Monetary Policy Statement
1:30pm USD Unemployment Claims
1:45pm EUR ECB Press Conference
Comment:
Dollar retreats after Fed meeting, while euro shines ahead of ECB. The U.S. dollar retreated in early European trade Thursday, continuing the previous session’s selloff after the Federal Reserve signaled a pause to its year-long tightening cycle after its latest interest rate hike. The U.S. central bank raised interest rates on Wednesday by 25 basis points as widely expected, and crucially no longer “anticipates” further rate increases will be needed to tame inflation. The focus Thursday now turns to the European Central Bank, which is expected to lift its interest rates later in the session, probably by 25 basis points, without delivering the dovish assessment of future policy.
Analysis: SCRUM Team
