Forex Today impact of increased interest rates - EUR/USD Bullish / Bearish?
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After Federal Reserve of the United States announced they approved to increased interest rates (50bps). This increase rates is the largest increase from 2000. This step was taken due to the heating cycle of inflation. Then, Central Bank announced which is the bank will begin reducing its balance sheet on 1st June.
Hopefully From this announcement will make reaction in market prices movement. But because of the "usual attitude" of Jeremy Powell press conference, the market reaction was not as expected. Ignoring the potential for a 75 bps increase. And then Wall Street market going stronger and followed other currencies.
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The USD weakened and the EUR price strengthened to close last week, the EUR/USD pair hitting a weekly high of $1.0626 and then dropping back to a weekly low of $1.0487 the following day.
After one week EUR/USD try to recovered prices, overall these pair still bearish. With weekly Volatility at ending point around $1.0547, these pair prices stay close from year to date low of $1.0470.
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Keywords:
#Forex
#Federalreverse
#EUR
#USD
#EUR/USD
#Deriv
