EURUSD remains under pressure; market players are waiting for news.
The major currency pair remains weak early in the week. The current quote for the instrument is 1.1702.
The American currency was significantly supported by the Retail Sales report for August, which showed 15.1% y/y. Before the next meeting of the US Federal Reserve, it’s like a “gift from gods” – investors are expecting the regulator to use the strong statistics and decide on an earlier reduction of its QE program. In an ideal scenario, it would be better to understand the scale of a possible reduction. However, when the decision is made, all details will be announced.
The Fed’s next session is scheduled for this week.
It means that the market volatility may increase exponentially by the time of the Fed’s press conference, so investors should be ready for it.
However, if the Fed behaves as if nothing happened and its comments after the meeting are rather standard, the “greenback” may plummet.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.