After bouncing at 1.1730, the Euro quickens its rebound and gets closer to 1.1800.
More information regarding the monetary policies of the banks is anticipated from ECB and Fed officials.
Tuesday's speech by Fed Chair Jerome Powell could determine the path of the USD in the foreseeable future.
In an attempt to end a three-day losing trend, some buyers have shown interest in EUR/USD on Monday. After rising from lows of 1.1730, the pair is currently trading at 1.1765. The US dollar declined ahead of numerous Fed speakers, ending the pair's three-day losing trend. Fundamental direction for the Euro will be provided in Europe by ECB officials and the preliminary Consumer Confidence figures.
It is anticipated that over 10 Fed policymakers would give press conferences this week to discuss the central bank's monetary policy strategy. When Stephen Miran, the new member of the Fed's Board of Governors, speaks later on Monday, investors will be paying close attention. In contrast to the other members of the committee, he is anticipated to defend his independence as a policymaker and provide an explanation for his decision to implement a big interest rate drop last week.
Fed Chairman Jerome Powell may discuss the need for a cautious approach to monetary policy in his lecture on the Economic Outlook at the Providence Chamber of Commerce on Tuesday. The market consensus, which projects almost one rate decrease in each of the two monetary policy meetings left this year, was somewhat at odds with Powell's position last week.
Joachim Nagel, president of the German Bundesbank, and Philip Lane, chief economist for the European Central Bank (ECB), may provide additional hints regarding the ECB's monetary policy in Europe. The primary data point in between will be the Consumer Confidence of the Eurozone. For additional information about the region's economic prospects, investors will continue to rely on Tuesday's preliminary Manufacturing and Services Purchasing Managers Indexes (PMIs).
Today's Euro Price
Daily digest market movers: Fed monetary policy returns to focus, slowing the US dollar's momentum
With a number of officials speaking today and a special focus on Stephen Miran, who is anticipated to outline the reasons to accelerate the monetary easing cycle, the US dollar (USD) is ending a three-day winning run on Monday as the markets shift their attention to the Fed.
President Putin is scheduled to make a statement on Monday, according to the Russian news agency Interfax. This announcement follows a Kremlin spokeswoman who denied reports of airspace violations by the surrounding countries and confirmed that the claims are intended to increase tensions.
For the first time in four years, Fitch raised Italy's credit ratings from BBB to BBB+ on Friday, citing Prime Minister Giorgia Meloni's accomplishments in cutting the fiscal deficit and the nation's increased political stability.
Other than Miran, Monday's news conference is slated to include meetings with the presidents of the New York Fed, John Williams, St. Louis Fed, Alberto Mussalem, Richmond Fed, Tom Barkin, and Cleveland Fed, Beth Hammack.
Martins Khazaks and Edward Scicluna, two ECB officials, evaluated the bank's monetary policy over the weekend and concluded that there is no need to further lower interest rates. These remarks may have given the euro some support and countered ECB Mario Centeno's dovish views, which suggested a rate cut as the bank's next course of action on Friday.
Technical Analysis: The 1.1795 region is probably where the EUR/USD will encounter resistance.
The trendline resistance from the late August lows, around 1.1725, was just ahead of buyers in the EUR/USD drop from last week's highs at 1.1918. Despite the rise in technical indicators, the Relative Strength Index (RSI) remains below the crucial 50 level. Bearish pressure is consistently displayed by the Moving Average Convergence Divergence (MACD).
The first significant resistance area to the upward is thought to be Friday's high at 1.1795, which comes before the September 18 high around 1.1850 and the September 16 high around 1.1878. The intra-day low of 1.1725 and the previously indicated trendline serve as support levels. The September 12 low of 1.1700, which comes before the September 11 low of 1.1660, would be the next target further down.
More information regarding the monetary policies of the banks is anticipated from ECB and Fed officials.
Tuesday's speech by Fed Chair Jerome Powell could determine the path of the USD in the foreseeable future.
In an attempt to end a three-day losing trend, some buyers have shown interest in EUR/USD on Monday. After rising from lows of 1.1730, the pair is currently trading at 1.1765. The US dollar declined ahead of numerous Fed speakers, ending the pair's three-day losing trend. Fundamental direction for the Euro will be provided in Europe by ECB officials and the preliminary Consumer Confidence figures.
It is anticipated that over 10 Fed policymakers would give press conferences this week to discuss the central bank's monetary policy strategy. When Stephen Miran, the new member of the Fed's Board of Governors, speaks later on Monday, investors will be paying close attention. In contrast to the other members of the committee, he is anticipated to defend his independence as a policymaker and provide an explanation for his decision to implement a big interest rate drop last week.
Fed Chairman Jerome Powell may discuss the need for a cautious approach to monetary policy in his lecture on the Economic Outlook at the Providence Chamber of Commerce on Tuesday. The market consensus, which projects almost one rate decrease in each of the two monetary policy meetings left this year, was somewhat at odds with Powell's position last week.
Joachim Nagel, president of the German Bundesbank, and Philip Lane, chief economist for the European Central Bank (ECB), may provide additional hints regarding the ECB's monetary policy in Europe. The primary data point in between will be the Consumer Confidence of the Eurozone. For additional information about the region's economic prospects, investors will continue to rely on Tuesday's preliminary Manufacturing and Services Purchasing Managers Indexes (PMIs).
Today's Euro Price
Daily digest market movers: Fed monetary policy returns to focus, slowing the US dollar's momentum
With a number of officials speaking today and a special focus on Stephen Miran, who is anticipated to outline the reasons to accelerate the monetary easing cycle, the US dollar (USD) is ending a three-day winning run on Monday as the markets shift their attention to the Fed.
President Putin is scheduled to make a statement on Monday, according to the Russian news agency Interfax. This announcement follows a Kremlin spokeswoman who denied reports of airspace violations by the surrounding countries and confirmed that the claims are intended to increase tensions.
For the first time in four years, Fitch raised Italy's credit ratings from BBB to BBB+ on Friday, citing Prime Minister Giorgia Meloni's accomplishments in cutting the fiscal deficit and the nation's increased political stability.
Other than Miran, Monday's news conference is slated to include meetings with the presidents of the New York Fed, John Williams, St. Louis Fed, Alberto Mussalem, Richmond Fed, Tom Barkin, and Cleveland Fed, Beth Hammack.
Martins Khazaks and Edward Scicluna, two ECB officials, evaluated the bank's monetary policy over the weekend and concluded that there is no need to further lower interest rates. These remarks may have given the euro some support and countered ECB Mario Centeno's dovish views, which suggested a rate cut as the bank's next course of action on Friday.
Technical Analysis: The 1.1795 region is probably where the EUR/USD will encounter resistance.
The trendline resistance from the late August lows, around 1.1725, was just ahead of buyers in the EUR/USD drop from last week's highs at 1.1918. Despite the rise in technical indicators, the Relative Strength Index (RSI) remains below the crucial 50 level. Bearish pressure is consistently displayed by the Moving Average Convergence Divergence (MACD).
The first significant resistance area to the upward is thought to be Friday's high at 1.1795, which comes before the September 18 high around 1.1850 and the September 16 high around 1.1878. The intra-day low of 1.1725 and the previously indicated trendline serve as support levels. The September 12 low of 1.1700, which comes before the September 11 low of 1.1660, would be the next target further down.
