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EUR/USD modestly higher after FOMC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - EUR/USD turned to the downside after the release of the Federal Reserve minutes but it remained moving without a clear direction. It printed a fresh 7-month low at 1.0616 after the release of the minutes, then bounced to the upside and peaked at 1.0653. It was trading at 1.0630/50, around the same level it had before the document.

    According to the minutes, most FOMC members agreed that a rate hike in December was appropriate and that the actual decision depends on data. The next FED meeting will take place Dec 17/18, before then, new inflation and employment data will be released.

    EUR/USD holds near the bottom

    The difference between monetary policy expectations between the FED and the European Central Bank pushed EUR/USD toward 2015 lows. The US central bank appears to be ready to start its normalization process while the ECB is preparing more stimulus.

    Yesterday EUR/USD posted the lowest daily close since April and now is attempting to end the day above. Markets are still digesting the minutes.
    For more information, read our latest forex news.
     

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