EUR/USD price on Monday continued its rise after ending consolidation near the middle band line. Bank holidays in Japan and China don't seem to have much influence on the EURUSD market and the volatility market remains high.
EUR/USD price rose forming a long-body bullish candlestick with almost no shadow reflecting significant gains with little selling pressure.
The Fed, according to the economic calendar schedule Forexfactory, will announce its interest rate policy on September 19 which is expected to fall to 5.25% from the previous 5.50%.
Meanwhile, according to the Fedwatch tool from the CME group, the potential for the Fed to cut interest rates by 50 bps has increased by 67%, while the potential for a 25 bps cut has fallen to 33%. This change was caused by US economic data last week which strengthened hopes that the Fed might surprise the market with a 50 bps cut.
Today the important economic data that investors are focusing on is US retail sales. Core retail sales are expected to fall 0.2% from the previous revised 0.4%, and retail sales are expected to be -0.2% from the previous 1.0% to be released by the US Census.
EUR/USD price rose forming a long-body bullish candlestick with almost no shadow reflecting significant gains with little selling pressure.
The Fed, according to the economic calendar schedule Forexfactory, will announce its interest rate policy on September 19 which is expected to fall to 5.25% from the previous 5.50%.
Meanwhile, according to the Fedwatch tool from the CME group, the potential for the Fed to cut interest rates by 50 bps has increased by 67%, while the potential for a 25 bps cut has fallen to 33%. This change was caused by US economic data last week which strengthened hopes that the Fed might surprise the market with a 50 bps cut.
Today the important economic data that investors are focusing on is US retail sales. Core retail sales are expected to fall 0.2% from the previous revised 0.4%, and retail sales are expected to be -0.2% from the previous 1.0% to be released by the US Census.
