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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Euro is trading in good spirits. Overview for 03.11.2016
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The Euro is trading in good spirits. Overview for 03.11.2016

They continue buying the main currency pair despite the predicted results of the Fed meeting.

By Thursday, the EUR/USD in still on the “green” wave. The current quote for the instrument is 1.1118 as it continues growing for the third consecutive day.

So, yesterday evening the two day meeting of the USA Fed was over. The results were rather predicted and obvious. The interest rate didn’t change and remained in the same range where it should be. Two members of the regulator voted for the rate increase, others were against. In the comments that followed, the regulator emphasized that the country’s economy was stabilizing and noted that the rate might be increased soon.

Everything was just as predicted. Probably, this is why markets weren’t inspired by the results and decided to pay more attention to politics. Less than a week to go until presidential elections in the USA, and we have another unfolding scandal, this time featuring the FBI. The less time until the elections is, the better investors understand the possible consequences of each candidate’s win. And, it appears that no one is happy about both cases.

The ADP report on the US employment market published yesterday was quite weak. However, there is no 100% correlation between ADP and NFP, that’s why the report should be taken too seriously.

The volatility in the EUR/USD pair will remain rather high at least until Friday evening.
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