EURUSD may decline further
The EURUSD rate corrected on Tuesday following an aggressive decline a day earlier. Why does the market remain cautious? Find out more in the analysis dated 30 July 2024.
EURUSD trading key points
The EURUSD pair remains under pressure, trading around 1.0815. The market is awaiting the Federal Reserve meeting on Wednesday, following which the base rate will likely remain unchanged but may provide hints about a rate reduction in September. Traders believe that if no clear signal is given about a rate cut, this may help strengthen the US dollar.
Despite higher-than-expected US GDP growth rates in Q2, the likelihood of monetary policy easing remains high. Although inflation has slowed, it continues to be the regulator’s concern.
Today, investors will focus on June’s job openings data and July’s Consumer Confidence Index. The long-awaited July employment report will be released on Friday, significantly impacting traders’ expectations about the Federal Reserve’s future policy.
Overall, market participants are not inclined to take active action as they await the central bank’s dovish decision. In this situation, the EURUSD rate may decline further.
Market analysis for other instruments can be found in the section "Market analysis" on our website.
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team
The EURUSD rate corrected on Tuesday following an aggressive decline a day earlier. Why does the market remain cautious? Find out more in the analysis dated 30 July 2024.
EURUSD trading key points
- The market awaits the Federal Reserve meeting on Wednesday for potential interest rate cut signals
- Today, traders will focus on the June job openings and July Consumer Confidence Index
- EURUSD forecast for 30 July 2024: 1.0800 and 1.0775
The EURUSD pair remains under pressure, trading around 1.0815. The market is awaiting the Federal Reserve meeting on Wednesday, following which the base rate will likely remain unchanged but may provide hints about a rate reduction in September. Traders believe that if no clear signal is given about a rate cut, this may help strengthen the US dollar.
Despite higher-than-expected US GDP growth rates in Q2, the likelihood of monetary policy easing remains high. Although inflation has slowed, it continues to be the regulator’s concern.
Today, investors will focus on June’s job openings data and July’s Consumer Confidence Index. The long-awaited July employment report will be released on Friday, significantly impacting traders’ expectations about the Federal Reserve’s future policy.
Overall, market participants are not inclined to take active action as they await the central bank’s dovish decision. In this situation, the EURUSD rate may decline further.
Market analysis for other instruments can be found in the section "Market analysis" on our website.
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Sincerely,
The RoboForex Team