Michel Salibi.
Senior Financial Markets Analyst at FxPro.
The US Federal Reserve keeps interest rates unchanged at 5.5%. He also added that there is not a great possibility that interest rates will be raised further and Fed members are talking about the appropriate date to lower interest rates.
He announced that the Federal Reserve had lowered its inflation expectations for the current year from 3.3% to 2.8% and for next year from 2.5% to 2.4%.
The US dollar is declining significantly, coinciding with the decline in 10-year yields to less than 4%. It will also soar and exceed the $2,045 levels.
Performance of the US Dollar Index and US Treasury bond yields
As for the euro prices against the US dollar, they rebounded from the level of 1.0755 after forming the 3 white soldiers pattern and after the emergence of the Doji pattern and it appears that it is trading at the important resistance level at 1.0960. If it is fixed above this price, we may find the next potential resistance level at 1.1010/1.1020, followed by 1.1100. On the downside, the next potential support line could come at 1.0862/1.0855 at the 50% Fibonacci line and the 20-day EMA.
During the last 24 hours, the euro recorded gains exceeding 1.60% against the US dollar, coinciding with statements by Jerome Powell, Chairman of the US Federal Reserve, and statements by Christine Lagarde, President of the European Central Bank, who said a short while ago that the ECB did not discuss at all reducing interest rates at this meeting, and it is not possible to There is no way that interest rates will suddenly move lower, and the current tight levels will need to be maintained for a longer period before a cut can be considered.
2023-12-15 08:42:00
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