EUR/USD According to Bloomberg, the EU-U.S. trade meeting this week may be a bit narrower in scope than originally planned. France wasn’t ready to agree to the draft conclusions for the meeting. The meeting is aimed at closing the chapter on four years of transatlantic conflict. USD/JPY USD/JPY prices are on the way to a yearly peak of 111.65. Overbought RSI may challenge the bulls afterward, if not then an upper line of the six-month-old rising channel, near 112.30, will be the key
EUR/USD In opinion of FX Strategists at UOB Group, EUR/USD remains poised to keep the consolidation between 1.1700 and 1.1800 in the next weeks. USD/JPY USD/JPY moved through the first resistance at 110.50 before stalling at 110.80. Terence Wu, FX Strategist at OCBC Bank, expects the pair to march forward following higher US Treasury yields. GBP/USD Cable is still seen within the 1.3650-1.3810 rangebound theme for the time being, noted FX Strategists at UOB Group. USD/CHF Given the upbeat RSI conditions, not overbought, as well as the
U.S. Federal Reserve According to Bloomberg, Federal Reserve Chair Jerome Powell said the U.S. central bank could begin scaling back asset purchases in November and complete the process by mid-2022. Officials revealed a growing inclination to raise interest rates next year. Powell, explaining the U.S. central bank’s first steps toward withdrawing emergency pandemic support for the economy, told reporters Wednesday that tapering “could come as soon as the next meeting.” That would be on Nov. 2-3. The Fed also raised its
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