EUR hopes for the ECB. Overview for 15.06.2023

The major currency pair is consolidating on Thursday while awaiting news. The current EURUSD quote is 1.0810.

These days are rich in news and emotions, but the market is coping well with this load so far.

The US Federal Reserve System decided the day before to keep the interest rate unchanged at 5.25% per annum. At the same time, the Fed indicated in its comments its intention to raise the cost of lending further but at a more modest pace. This was unexpected as the market was confident that the monetary policy tightening phase was over.

Today, the focus is shifting to the meeting of the European Central Bank, during which the interest rate is highly likely to be raised by 25 basis points to 4.00% per annum. The ECB is expected to hike the rate twice and then take a pause to collect data and analyse it.

The currency section is in a zone of high volatility, which carries significant risks of rapid sentiment swings.