EURUSD is trying to grow. Overview for 11.01.2022
EURUSD is making another attempt to rise; investors are interested in risk attitude.
The major currency pair is looking up on Tuesday. The current quote for the instrument is 1.1337.
The statistics published yesterday showed that the Sentix Investor Confidence in the Euro Area reached 14.9 points in January after being 13.5 points the month before. It’s good news.
The Unemployment Rate in Europe was 7.2% in November against 7.3% in the previous month.
The US Fed Chairman Jerome Powell is scheduled to speak later today. At the same time, the Senate will have a hearing to extend his tenure as the Chairman for the second term. So, what can Powell tell market players they don’t know yet? Probably nothing. However, he might talk about the monetary tightening again. First of all, investors are interested in any hints at this year’s first rate hike.
At the moment, the Fed’s stance implies decreasing its own balance as soon as possible, which means that the rate may be raised right after the QE tapering. And that’s March. This is exactly what global markets are waiting for today.
If everything goes as expected, the “greenback” may get support within the current range.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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