Jump to content
The Twitter Feeds are now back on the Platform ×

Euro Latest – EUR/USD Driven by Energy Fears and FOMC Outcome

Recommended Posts

Euro Latest – EUR/USD Driven by Energy Fears and FOMC Outcome

Jul 27, 2022 | DailyFX
Nick Cawley, Strategist

EUR/USD Price, Chart, and Analysis

  • FOMC decision and Fed chair Powell’s presser are the day’s highlight.
  • Gazprom cuts its gas supply further.

The FOMC monetary policy decision later today is expected to see the Fed hike rates by 75 basis points, a similar move to the last meeting on June 15, taking the Fed target rate to 250-275 basis points. Markets’ probability for this move is around 75%, while a 100 basis point hike is given a 25% probability. The post-decision press conference by Fed chair Jerome Powell will need to be closely followed for any clues as to how the central bank is looking to handle the twin problems of rampant inflation and flagging growth.

The energy crisis in Europe continues unabated with gas supplies cut further today. Earlier in the week, Russian energy giant Gazprom said that it would cut Europe’s gas supply in half today to 33 million cubic meters a day, just 20% of the Nord Stream 1 pipelines capacity, citing technical reasons for the reduction. Any further reduction in the flow of gas would hit an already weak Euro Zone further. Yesterday the European Union announced plans for a voluntary 15% reduction in gas usage from August through to the end of March 2023 across the single-block, although some member states were given agreed opt-outs.

  • Great! 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 31/03/23 18:01
  • Posts

    • Hello everyone, i am looking to hold shares long term Apple Tesla in a spreadbetting account just wounded if there is a calculation example Tesla $195.00 1 share = ? ponds per point spread bet. Thanks for any help
    • #USDCAD: Time For PullbackUSDCAD reached a key level.Testing that, the price broke and closed above the resistance line of a falling wedge pattern.I expect a pullback now.Goals: 1.355 / 1.3577  
    • Charting the Markets: 31 March The FTSE 100, DAX 40 and Nasdaq 100 surge higher on a positive outlook as EUR/USD, GBP/USD pause their ascents while USD/JPY continues to rise as the greenback appreciates. WTI remains capped by resistance, gold forms a technical triangle as Robusta coffee trades near six-month highs.   Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Friday 31 March 2023                 This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
  • Create New...