Forex trading. Euro-Dollar EUR/USD forecast for today, September 30, 2021
On Wednesday, the euro/dollar exchange rate fell to the support level of 1.1600.
Quotes reached the lowest level since November 2020, amid rising US yields and investor fears that the Fed will begin to curtail support for the economy during a slowdown in global growth. In general, the markets expect that the strengthening of the US dollar will continue until the end of the year. An increase in the interest rate may also occur by the end of 2022. In the Eurozone, the situation looks diametrically opposite. The ECB does not plan any changes in monetary policy in the near future, believing that the increase in inflation will be temporary.
US Treasury bond yields have risen in recent days due to an increase in the likelihood of a reduction in the quantitative easing program, and inflation is starting to look more stable than it seemed at first glance. Energy prices are rising, and fears of China's economic growth prospects are growing, both due to the collapse of the China Evergrande development company and due to power outages that affect production. The emerging markets currency index recorded the sharpest drop in the last three weeks on Tuesday, and continued to decline on Wednesday to a one-month low.
The forecast assumes a corrective growth of the euro/dollar pair to the levels of 1.1620, 1.1640 and 1.1670.