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/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.
IG client and CoT sentiment for EUR/USD
EUR/USD Chart with retail and institutional sentiment
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