Forex. Euro/Dollar (EUR/USD) forecast for today
Recall that last week there was an attempt to gain a foothold in a low trading range, which indicates the willingness of market participants to buy the US dollar more. At the same time, Eurozone inflation indicators failed to strengthen the euro in the framework of the weekly outlook. Markets expect the strengthening of the US dollar to continue until the end of the year. The Fed's interest rate may rise next year. At the same time, in the Eurozone, regulators adhere to a conservative monetary policy. The ECB does not plan any changes in monetary policy in the near future, believing that the increase in inflation will be temporary.
On Tuesday, market participants will expect data on the German economic sentiment index. It should be noted that this index serves as a weighty indicator of business conditions, as it shows the opinion of about three hundred and fifty leading investment experts. Traditionally, after the release of statistics, one can expect the volatility of the euro in a pair against major currencies. If the current value is published above the forecast, the euro is likely to strengthen. At the same time, risk appetite has increased in the markets, and a new increase in trading activity is not far off. American lawmakers have made progress in solving the problem of the US debt limit. The US Senate has approved a bill raising the debt ceiling by $480 billion - this is the amount in which the US Treasury estimates the country's needs until December 3.