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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

EUR/USD: Fed keeps rates on hold, focus shifts to the ECB today

Lagarde’s first as ECB president, expected to keep monetary policy unchanged.

EUR Source: Bloomberg

EUR/USD Technical analysis, overview, strategies, and levels

Yesterday's US FOMC decision left monetary policy unchanged, with its Fed Chairman Powell mentioning it’ll take a significant pickup in inflation to raise rates, and where US CPI (Consumer Price Index) figures were only slightly above expectations. The reaction to the greenback was negative, and USD was the worst performer amongst the FX majors. Up next, it's the ECB's (European Central Bank) turn, where it too is expected to keep monetary policy unchanged and continue its current bond purchasing program initiated by former ECB president Draghi. What will be of investor interest is what its new president Lagarde will have to say, and whether or how her methods may differ. On the side, there will also be UK parliamentary elections which will affect the pound the most, but still have an affect on other European currencies like the euro and franc.

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EURUSD TA Source: IG charts
EURUSD TA Source: IG charts

IG client and CoT sentiment for EUR/USD

EURUSD sentiment Source: IG charts
EURUSD sentiment Source: IG charts

EUR/USD Chart with retail and institutional sentiment

EURUSD chart Source: IG charts
EURUSD chart Source: IG charts

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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