Monetary policy is back in focus on Tuesday as the Federal Reserve coalesces in Washington for its final meeting of 2017. This and others are briefly discussed in the 12 December EURUSD Fundamental Analysis.
12 December, OctaFX – Monetary policy is back in focus on Tuesday as the Federal Reserve coalesces in Washington for its final meeting of the year. Although the rate announcement will come on Wednesday, investors will be keeping tabs on all the latest developments involving the Fed.
Action begins at 09:30 GMT with a series of UK inflation indicators. The Office for National Statistics will report on the retail price index, producer price index and consumer price index. These measures are closely watched by the financial markets, and will have a direct impact on the British pound.
The Centre for European Economic and Social Research (ZEW) will report on German investor sentiment at 10:00 GMT. The main economic sentiment gauge is expected to fall to 17.4 from 18.7 the previous month.
12 December EURUSD Fundamental Analysis
The euro bounced back on Monday after a sharp selloff at the end of last week. However, it continues to trade well below 1.1800 US, which presents an imminent resistance area. The EUR/USD exchange rate was last seen trading at 1.1769, where it was little changed compared with the previous close. Monetary policy will loom large for this pair in the coming days.
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