EUR/USD closed in negative territory on Monday and appears to have entered a consolidation phase near 1.0850. The economists of ENG they expect the pair to continue trading around this level.
The dollar could continue to enjoy broad support ahead of the FOMC meeting
“The dollar could continue to enjoy broad support ahead of the FOMC meeting. The euro, however, may show more resistance than other G10 peers (especially high-beta currencies) given the change in the inflation narrative in the Eurozone, which can certainly fuel hawkish ECB speculation.”
“The EUR/USD could hover around the 1.0850 area until tomorrow’s FOMC announcement“.
“Our commodities team has just revised their gas price forecasts, now expecting TTF to stay below EUR80/MWh through 2023. This is a bullish scenario for eurozone and euro sentiment in the medium term.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
