EUR/USD is hovering near the 1.1300 level to start the new trading week. Fiber has been stuck in an uncertain consolidation phase as Euro traders struggle to initiate a fresh push in either direction.
European data remains limited this week: final Purchasing Managers' Index (PMI) data due later this week is unlikely to produce any surprises, and pan-European Retail Sales figures due Wednesday morning are already expected to disappoint markets, poisoning the water supply and leaving Fiber traders focused on this week's key Federal Reserve (Fed) interest rate decision.
The Fed is widely anticipated to keep interest rates on hold for now, a decision that is likely to draw further criticism from the Trump administration, which has been trying hard to persuade Fed Chairman Jerome Powell to cut rates sooner rather than later. Employment and inflation data have largely looked balanced, but the White House's erratic and unclear trade policy has hurt its own chances of cutting rates, as the Fed remains dedicated to its goal of controlling unemployment and price fluctuations.
While the Fed appears all but certain to keep rates on hold this week, Fed Chair Powell's remarks will carry additional meaning for investors following the Fed's announcement on Wednesday. Market participants are still looking for any indication of a shift to a new rate-cutting cycle, and traders will be looking for signs of dovishness from Fed officials. (Newsmaker23)
Source: FXstreet
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