Fed Policy and Trump’s Rate Cut Push Keep EUR/USD in Focus
EUR/USD trades around 1.0440, while the Dollar Index holds at 107.9 as investors await the Fed’s policy decision. The central bank is expected to keep rates unchanged, with a focus on Powell’s remarks and inflation outlook for rate cut signals.
Trump's call for immediate rate cuts adds pressure, while traders await Friday’s PCE inflation report. The dollar strengthened after Trump’s new tariff threats, with the first round against Mexico, Canada, and China set for February 1.
From a technical perspective, the first resistance level is at 1.0490, with further resistance levels at 1.0515 and 1.0550 if the price breaks above. On the downside, the initial support is at 1.0355, followed by additional support levels at 1.0270 and 1.0225.
Trump's call for immediate rate cuts adds pressure, while traders await Friday’s PCE inflation report. The dollar strengthened after Trump’s new tariff threats, with the first round against Mexico, Canada, and China set for February 1.
From a technical perspective, the first resistance level is at 1.0490, with further resistance levels at 1.0515 and 1.0550 if the price breaks above. On the downside, the initial support is at 1.0355, followed by additional support levels at 1.0270 and 1.0225.
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