- EUR / USD has barely changed after a benign statement from the FOMC.
- Markets will tune in to the Fed chairman’s press conference for clarity.
He EUR/USD It is currently trading at 1.2118 and between a range of 1.2058 and 1.2169 on the day.
The euro has remained in a tight range after the meeting of the Federal Open Market Committee reaffirming its “statement on longer-term objectives and monetary policy strategy.”
Its benchmark interest rate was unchanged.
The target range is 0.00% – 0.25% and the interest rate on excess reserves also remains unchanged at 0.10%.
Key notes from the release
The statement establishes that QE will continue at $ 80 B in Treasury bonds and $ 40 B in MBS per month and that the pace of economic activity and employment has moderated in recent months.
Markets are watching Fed Chairman Jerome Powell’s press conference for clarity.
You will likely be asked questions about the change in the statement regarding the lack of continuity in positive economic activity and employment.
Your economic resilience projections related to the spread of covid will be critical and you will most likely come under pressure again for information on downsizing times as the economy comes out of the depression.
Technical levels
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