6

Search
Search

Free Trading Guides
Subscribe to Our Newsletter
Market News
Analysis
Currencies
Commodities
Stocks
Crypto

Tools
Calendars
Education
About Us

English
EUR/USD
BEARISH
OIL - US CRUDE
BEARISH
More
NEWS
$EURUSD dropped 1.0850 this morning, but as would be expected in a day before the FOMC, no legitimate trend to follow
IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 80.79%, while traders in France 40 a...
Monetary Policy
GDP
More
Euro Forecast: USD Controlling EUR/USD Price Action Dismissive of Positive EZ Data
Euro Forecast: USD Controlling EUR/USD Price Action Dismissive of Positive EZ Data

Jan 31, 2023 10:30 AM -03:00
Warren Venketas, Analyst

What's on this page
EUR/USD ANALYSIS & TALKING POINTS
EZ economic data unable to deter USD backing.
All eyes on the Fed tomorrow with emphasis in post-announcement conference.
Can current USD strength last against the EUR?
EUR ForecastEUR Forecast
RECOMMENDED BY WARREN VENKETAS
Get Your Free EUR Forecast
Get My Guide
EURO FUNDAMENTAL BACKDROP
The euro received several key economic data prints (see economic calendar below) from various parts of the eurozone today but did not necessarily reflect the data via the EUR/USD currency pair. Although French inflation missed estimates, the actual figure of 6% still improves on the December figure while the German labor market maintained its robust state. It would be expected that this type of information would drive hawkish bets for the upcoming ECB meeting but the trading session from Asia and throughout the European session looks to be risk-off. The USD naturally benefitted from this hesitancy but a hawkish slant to tomorrow’s Fed meeting is very much front of mind as well. A 25bps rate hike is unlikely to change but the Fed’s hard stance on reaching a peak rate of 5% for 2023 may be reiterated despite market pricing dismissing their guidance.