EURUSD – Up
Event to pay attention to today:
15:30 EET. USD – Unemployment Claims
EURUSD:
EUR/USD remains in sideways movement.
The broader US Dollar outlook remains stable as the US Federal Reserve (Fed) has scheduled fewer interest rate cuts for 2025. In the latest dot plot, the Fed indicated only two interest rate cuts in 2025, down from the four cuts projected in September. UBS analysts believe the Fed will make two 25bp interest rate cuts at the June and September meetings.
Recent comments from Fed officials have indicated that they have shifted to a more measured approach to interest rate cuts due to volatile inflation, better labour market conditions than previously expected and uncertainty over the impact of President-elect Donald Trump’s policies on the economy.
Investors‘ attention will be focused on data on US initial jobless claims for the week ended 20 December, which will be released on Thursday. According to economists‘ estimates, the number of people who applied for unemployment benefits for the first time amounted to 218 thousand, down from the previous value of 220 thousand.
Trade recommendation: Watch the level of 1.0380, when fixing below consider Sell positions, when rebounding consider Buy positions.
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