Forex. Euro/Dollar (EUR/USD) forecast for today
An attempt to gain a foothold in a lower trading range is visible.
The US consumer price index for September will be released today. During the current year, this indicator decreased in July and August, all other months it remained at high levels. The output of the current value above the forecast will only strengthen the US dollar against other world currencies. This week, the focus will be on the speech of the President of the Federal Reserve Bank of Atlanta, Rafael Bostic, as well as the minutes of the Federal Reserve meeting from September 21-22. Market participants will be waiting for the regulator's signals about the curtailment of monetary policy.
On Friday, the yield on 10-year Treasury bonds reached a four-month high at 1.617%. At the same time, the US economy in September created the fewest jobs in nine months. The rise in energy prices in the world contributes to the growth of fears of increased inflation. The US regulator said at the end of the September meeting that it may soon be necessary to reduce the volume of quantitative easing, and Fed Chairman Jerome Powell made it clear that the Central Bank could begin to wind down this program in November.
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.