3/6/2024 0 Comments Forex cycle indicatorsMeanwhile, US retail sales rose while initial jobless claims fell, indicating a robust economy. Moreover, it is now considered almost certain that there will be a pause in November. Are you interested in learning about the forex signals telegram group? Click here for details-Ĭonsequently, the likelihood of a Fed rate hike in December has decreased from 39% to 24%. Fed Chair Jerome Powell indicated that increasing market interest rates might lessen the need for more policy tightening. Notably, the dollar weakened amid reduced rate hike bets in December. Ups and downs of EUR/USDĪs the dollar weakened despite upbeat US data, the EUR/USD had a bullish week. The recent data and comments from Fed officials have reduced the chances of a rate hike in December, which has weakened the dollar’s appeal. The EUR/USD weekly forecast shows a slight edge for the euro over the dollar as the market adjusts its expectations for the Fed’s policy move. Economists agree that the European Central Bank’s rate hike cycle has concluded.US retail sales rose while initial jobless claims fell, indicating a robust economy. The dollar weakened amid reduced bets of a rate hike in December.
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