EURUSD is stable. Overview for 13.10.2022

The major currency pair is looking neutral on Thursday. The current quote for the instrument is 0.9700.

The currency market seems to have calmed down – you don’t often see such a situation recently. Investors decided to simply monitor what is happening in the market in anticipation of important statistics.

Yesterday, the US FOMC released its latest Meeting Minutes. The document says that the regulator must switch and stick to a more aggressive monetary policy to reach inflation targets. Many members of the Committee revised their opinions on the highest rate value. They say that after raising the rate to the particular level, the FOMC should keep it there for a specific period of time.

All these remarks are quite standard. Among more important and unusual things was the comment about the importance of adjusting the pace of future rate hikes and monetary policy strengthening in order to avoid significant negative consequences of the country’s economy and its future outlook.

In other words – the regulator should raise the rate in a way it won’t hurt the economy.

Later today, investors should pay attention to the inflation data for September from the US. The indicator is expected to show 0.2% m/m after being 0.1% m/m in the previous month.