Check out this week's EURUSD forecast- Trading
Get DailyForex analysis to your emailThe EUR/USD finished last week’s trading with a large of amount of choppy results having been demonstrated leading into the weekend, and more volatility will be seen in the coming days.The week of trading produced a rather noticeable amount of choppiness as the EUR/USD achieve a one-year high and came within sight of values not seen since the first week of April last year.
It is widely presumed the U.S. central bank will hike the Federal Funds Rate by another 0.25%. If the Fed doesn’t hike this would be a massive surprise, the rate increase has certainly been factored into the EUR/USD already. Betting against a rate hike this Wednesday would be an absurd betting gesture. The real question for financial institutions and traders is what the Federal Reserve’s FOMC Statement will say regarding its June rate outlook.
While weaker than expected U.S Advance Gross Domestic Product numbers helped fuel speculative buying of the EUR/USD, selling also quickly materialized afterward as inflation numbers from the U.S. continued to remain rather stubborn. While traders have accepted the notion the U.S. Federal Reserve will hike interest rates this week and may believe the U.S. central bank will need to be less aggressive within a six-month time period, this doesn’t mean that the 3of May will be the last increase. It is quite possible that a stubborn U.S. Federal Reserve could hike by another quarter of a point on the 14of June.
If the Federal Reserve gives an indication it can become more dovish in the next few months, this could spur on speculative buying of the EUR/USD after the Fed’s monetary policy pronouncements on the 3
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