The main currency pair is in the black on Wednesday afternoon, but investors are not ready to risk without knowing the Rate Decision.
On Wednesday afternoon, the EUR/USD pair is trading near 1.1229; the instrument is barely active as there is no any particular news. The market’s attention is focused on the two-day meeting of the USA Federal Reserve System, which is set to be over today.
The US Dollar has completely eliminated its decline on June 3rd
, when it fall against the Euro by almost two figures. Today, we’re sure to learn the answer to one of the two most intriguing questions of June: will the FRS increase the interest rate or make another pause for one more month? The market thinks it’s going to happen in July. However, one shouldn’t underestimate the American regulator.
According to the statistics published today, the Eurozone’s trade balance surplus in April reduced up to 27.5 billion EUR against 29.4 billion the month before. The export decreased by 1% up to 172.3 billion EUR, the import – by 5% up to 144.8 billion. This data is not seasonally adjusted. Taking into account the seasonality, the export added 4.9% m/m, and the import improved by 2.6% m/m.
However, the EUR/USD pair didn’t react to this statistics. The attention is grabbed by the FRS, everything else is of secondary importance. Tomorrow, they will publish the inflation report in the USA, the indicator, which the Fed lacks as a foundation today. Strong statistics on the CPI will improve chances that the rate might be increased next month, unless it happens until the end of the trading session on Wednesday.
RoboForex Analytical Department
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