The EUR/USD pair rolled over a lightly during the day on Monday, as we proceed to get in the direction of the lows newly placed in the market. What else is to be expected from the market? A brief outlook is presented in the 7 November EURUSD Fundamental Analysis from FxPro.
7 November, OctaFX –Central bank developments will take center stage on Tuesday, as commentary from the ECB and Fed will move the financial markets. European Central Bank President Mario Draghi will deliver a speech at 09:00 GMT.
The ECB announced recently that it will begin to unwind its stimulus program, but that the duration of the bond-buying will likely continue beyond September 2018. The central bank is responding to a much-improved regional economy.
In North America, Federal Reserve Chairwoman Janet Yellen will deliver a speech at 19:30 GMT. Yellen is wrapping up her final months as Fed boss after President Donald Trump announced Jerome Powell as her replacement. The Federal Reserve influence continues obviously and with the interest rate hikes that we are going to be seen later this year, it’s likely to be in favour of the US dollar.
7 November EURUSD Fundamental Analysis
The euro was little changed on Tuesday, hovering just north of 1.1600. The pair remains in a tight range, with markets still speculating on the outlook for ECB policy. Investors can, therefore, expect little market movement for the euro without a major fundamental catalyst.
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