The US Dollar (USD) resumed its bullish stance on Thursday, rapidly leaving behind the post-CPI sell-off seen on Wednesday and regaining balance amidst the prospects of just one interest rate cut by the Federal Reserve (Fed) this year, with December being the most likely candidate.
EUR/USD refocused on the downside, well below 1.0800. The Greenback faded the post-CPI retracement. The Fed could cut its interest rates just once this year. The US Dollar resumed its bullish stance on Thursday, rapidly leaving behind the post-CPI sell-off seen on Wednesday and regaining balance amidst the prospects of just one interest rate cut by the Federal Reserve this year, with December being the most likely candidate.
So far, the CME Group's FedWatch Tool now indicates nearly a 70% probability of lower interest rates by the September 18 gathering. In the short term, the ECB's recent rate cut vs. the Fed’s on-hold stance has widened the policy gap between both central banks, potentially exposing EUR/USD to further weakness.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Forecast: EUR/USD steady sub-1.0900 ahead of fresh cluesThe EUR/USD saw little action on Monday, hovering around the 1.0860 mark for most of the day.
Read more »
EUR/USD Forecast: EUR/USD holds in range after a disappointing US ADP surveyFinancial markets were mostly quiet throughout the first half of the day, with the US Dollar achieving modest intraday gains amid prevalent caution.
Read more »
EUR/USD Forecast: Extra losses now appear in the pipelineOn Tuesday, the US Dollar (USD) continued its post-NFP strong recovery, motivating EUR/USD to extend its downward momentum to fresh six-week lows near 1.0720.
Read more »
EUR/USD Forecast: Euro clears key resistance ahead of US inflation reportEUR/USD gathered bullish momentum in the early American session on Tuesday and climbed above 1.0800.
Read more »
EUR/USD Forecast: Bulls returned as US inflation remains stubbornly highThe EUR/USD pair spent the first half of the day consolidating Tuesday’s gains, reaching a fresh intraday high of 1.0836 during European trading hours.
Read more »