{"id":55498,"date":"2021-11-24T00:00:18","date_gmt":"2021-11-23T20:00:18","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=55498"},"modified":"2021-11-24T00:00:22","modified_gmt":"2021-11-23T20:00:22","slug":"eur-usd-opens-risk-to-1-1000-fomc-minutes-eyed","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/eur-usd-opens-risk-to-1-1000-fomc-minutes-eyed\/11\/24\/market-updates\/","title":{"rendered":"EUR\/USD Opens Risk To 1.1000, FOMC Minutes Eyed"},"content":{"rendered":"\n<p>On Tuesday, the EUR\/USD pair is slightly up by 0.14% after moving from a 1.1226 low and reaching as high as 1.1275. However, not much more can be expected on a day where markets are subdued ahead of the Thanksgiving Day holiday Thursday in the US and key data Wednesday. <br><br>The focus is on the USD. The dollar index, DXY, has held near 16-month highs that were made when Fed Chair Jay Powell was picked for a second term. This disappointed the bears who had been placing bets on a more dovish pick as Lael Brainard. Instead, Powell\u2019s pick has reinforced market expectations that lift-off will happen in 2022.<br><br><strong>FOMC Minutes Eyed By Investors, Traders and Market Participants<br><\/strong>Currency markets have been mostly driven in recent months by market perceptions of the different paces at which global central banks reduce the pandemic-era stimulus and raise rates. <br><br>In that regard, Wednesday&#8217;s FOMC minutes of the 2-3rd November will be key because Fed officials have seemed to be increasingly open to discussing a faster pace of monetary policy normalization. The minutes of the meeting could shed some light there. If the bar is seen lower for accelerating tapering and bringing forward rate lift-off then this could well fuel another strong USD\u2019s rally. <br><br><strong>Better Eurozone Data<\/strong> <br>The euro bounced off of 16-month lows on Tuesday, meanwhile, helped by better-than-expected business growth in the region. The preliminary read was better than expected, rising to 55.8 as services lifted 2 points to 56.6 (54.6). <br>Manufacturing rose to 58.6. November\u2019s buoyancy, however, is facing headwinds from the recent COVID-19 surge, so input and output prices both rose while price pressures are intensifying further in the Eurozone.&#8217;<br><br>The euro is going to be vulnerable as concerns grew over new COVID-19 restrictions in Europe, with Austria entering another full lockdown and Germany considering similar procedures. Germany&#8217;s health minister has called for further restrictions on public spaces.<br><br>EUR\/USD is resting at short-term technical support in the 1.1220\/30 area, if it breaks below this area, however, it would likely fall to $1.1000, which is the 78.6% retracement of 2020\u2019s move.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Tuesday, the EUR\/USD pair is slightly up by 0.14% after moving from a 1.1226 low and reaching as high as 1.1275. However, not much more can be expected on a day where markets are subdued ahead of the Thanksgiving Day holiday Thursday in the US and key data Wednesday. The focus is on the &hellip;<\/p>\n","protected":false},"author":13,"featured_media":33256,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,37,36],"tags":[6884,6928,6868,7187,7468],"class_list":["post-55498","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates","tag-eur-usd","tag-euro","tag-fomc","tag-stimulus","tag-tapering"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/55498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=55498"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/55498\/revisions"}],"predecessor-version":[{"id":55502,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/55498\/revisions\/55502"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/33256"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=55498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=55498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=55498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}