EURUSD reaches new high. Overview for 20.11.2023

The primary currency pair is hovering near a two-month peak this Monday. The current EURUSD exchange rate stands at 1.0922.

Market expectations have turned against the US dollar. Following the release of a series of weak macroeconomic reports in the previous week, including the inflation report, investors have begun to contemplate the outlook for monetary policy. The conclusion is that the Fed will likely need to adjust its monetary policy as the economy signals deteriorating conditions.

According to the CME FedWatch tool, the market expects the US to ease its monetary policy in March with a 30% probability.

It is essential to adopt a more objective attitude. The Federal Reserve is unlikely to make abrupt changes; it will first gather as many arguments as possible in favour of a shift in its policy. However, expectations reflect the evolving sentiments in the market.

These sentiments do not currently favour the US dollar at present but tend to lean towards risk.

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Source: RoboForex


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