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| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] Inflation and Bullish Dollar 2021 0919 https://youtu.be/rlpwVvky3xs
Hello, Gjallarhorn. The reports from Gjallarhorn are produced by a trader, not by an analyst. The reports are provided to the investors showing the trader's view on the market.
Gjallarhorn has no position after the liquidation watching the market.
The currency pair EUR/USD is on the downward trend. The pair tried to exceed its 20 moving average but failed. It kept the bearish trend and sank as the FOMC meeting conclusion was released.
It fluctuates in the narrow band after FOMC and tries to rebound.
The currency pair EUR/USD tries the rebound around 1.1690~1.1700, and the price band has supported the euro before. And the investors need to know the price has supported above 1.600 for a year. In the last month, the euro succeeded to rebound above 1.670s.
The dollar rose after the FOMC meeting. The Federal Reserve froze the benchmark interest rate, 0~0.25 percent band but hinted the rate hike in the next year or in 2023.
Fed Chair, Jerome Powell spoke the tapering might be active soon but didn't tell the speed of it at the press conference after the FOMC meeting. He told, the tapering would be terminated in the mid 2022. It means, the start time and the speed are already determined but published, the news medias report.
The FOMC froze the benchmark interest rate, Federal Funds Rate but the members anticipated it would be risen in the next year if early. The US economy daily, Wall Street Journal analysed, the Fed begun the tapering and signaled the interest hike in 2022. And it will rise in 2023 without the condition, some analysts think.
The market participants anticipate the tapering will be published in November and active in December.
It is reported, the quicken tapering plan is due to the inflation pressure. The Fed raised its expectation of the core PCE to 3.7 percent from 3.0 percent in the meeting. It is anticipated 2.3 percent in the next year. It exceed the Fed's goal, 2.0 percent.
Meanwhile Eurozone also concerns the inflation, it is reported that the tapering is reviewed in Eurzone, too. Whenever the reports on the possible tapering in Eurozone, the euro has risen.
The ECB president spoke the speed of the purchasing asset would be ease but it didn't mean the tapering ahead of the liquidation of euro-fx.
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