EUR / USD today: the market is waiting for the US Federal Reserve meeting
Trading on the Tuesday US session closed with a noticeable rise for the American dollar on the market with the confidence that the Fed will increase rates at today’s meeting, which also contributed to the news that after each meeting of the Fed a press conference will be hold .
Events for today:
- 12:00 – the volume of industrial production of the euro area (m / m).
- 15:30 – data on the US: the basic producer price index (PPI) in the US (m / m), the producer price index (PPI) in the US (m / m).
- 17:30 – the volume of oil reserves in the US.
- 21:00 – announce the decision on the interest rate of the US Federal Reserve.
The main event of the day is the meeting of the US Federal Reserve. And if the rate increase by 25 bp. to 2.00% is already taken into account by the market, then comments on the number of rate increases this year will be regarded as the fundamental news.
No sense to make forecasts for publishing the results of the Fed meeting. Before the release of these news, there may be volatilities in speculation in the range from 1.1720-00 to 1.1780. Significant support levels: 1.1700, 1.1640 and 1.1600, resistance: 1.1780-1.1800, 1.1840-60 and 1.1930.
EUR / USD Graph. Current price – 1.1740
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Hanzenko Anton