EUR got a chance again. Overview for 24.11.2022

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On Thursday, the market major has turned out much higher than expected. The current quote is 1.0430.

All eyes in the market yesterday were glued to the minutes of the previous meeting of the US Federal Reserve System. One thing that got immediately notices is the wording “uncertainty lags”. This is something new to the Fed’s characteristics but investors interpreted it as readiness of the regulator to pause increasing the rate

Today the interest rate is 4%. The nearest Fed meeting is scheduled for 13-14 December, and the market expects the interest rate to be increased there by 50 base points.

There is a good chance that the Fed will keep and eye on the market conditions and base its final decision in them.

The local improvement in the attitude to risks is now supported by the absence of a part of investors: it is the Thanksgiving Day in the US. Until Monday, market activity will remain low.

Yet one more factor supporting interest towards risky trades is the expectation that China will support its economy and that the NBC will drop reserve norms for banks.

Today investors will be interested in the minutes of the latest meeting of the European Central Bank. There is unlikely to be anything equally impressive as in the Fed’s minutes there, yet EURUSD fluctuations may show some reaction.

Source: Roboforex

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