EURUSD:
The Euro-dollar pair remains stable around 1.0900 in Thursday’s Asian session, slightly retreating from the six-week high of 1.0915 reached in the previous session after Federal Reserve (Fed) Chairman Jerome Powell’s speech before the House Financial Services Committee. The European Central Bank (ECB) will announce its monetary policy decision today at 16:15 MSC.
The ECB is expected to keep the deposit rate unchanged at 4.0%, marking the fourth consecutive unchanged meeting. Alongside this decision, the ECB will release updated economic forecasts. ECB President Christine Lagarde’s remarks at the post-meeting press conference will be scrutinized to understand the central bank’s stance on monetary policy and the economic outlook.
Fed Chairman Powell signaled the U.S. central bank’s willingness to reduce borrowing costs “at some point this year,” according to the semiannual monetary policy report. However, the recent escalation of the regional banking crisis in the United States (U.S.) could accelerate that timeline. Investors are eagerly awaiting further clarification from Fed Chairman Jerome Powell on Thursday.
Trading recommendation: Buy when the price consolidates above the level of 1.0900
Origin: FreshForex
