EUR/USD slides to fresh monthly lows, Investors awaiting FOMC meeting

EUR/USD has kept sliding for the second successive day. The pair has been exchanging hands at 1.1728 down 0.30%.
After a stellar U. S. Retail Sales report on Thursday, the EUR/USD pair is trading at three-week lows, driven by USD’s strength as (DXY) Index is at three-week highs

The market mood is currently in risk-off mode, with U. S. stock indices sliding between 0.26% and 1.19% and significant bond yields highs.

The U. S. 10-year benchmark rate is estimated at 1.368%, up almost four basis points on Friday, reinforcing the greenback and the US Dollar Index is up 0.33%, at 93.17.

The University of Michigan Consumer Sentiment increased slightly to 71 in September versus 70.3 in the previous month, although it was worse than the expected72.2.
The report’s data said that the declines are attributed to higher prices, as consumers expect the inflation rate to rise 4.7%, matching the highest since 2008.
The Federal Open Market Committee’s meeting is awaited by investors as it is expected to discuss monetary policy-related issues, including the QE reduction as the meeting’s spotlight.