The European Common Currency depreciated against the US Dollar, following the US FOMC Statement data release on Wednesday at 18:00 GMT. The EUR/USD exchange currency rate lost 29 pips or 0.26% right after the release. The Euro continued trading at the 1.1105 level against the Greenback.
[/ANNOUNCE]The Federal Reserve released the Federal Funds Rate data, which came out in line with the expectations of 2.25%.
During the press conference the Fed Chairman Jerome Powell said a recent rate cut is not the start of a long series of rate cuts. He suggested that a global economic slowdown, the US trade tensions and a need to boost low inflation are the reasons why the US policymakers decided to lower the rate. Thus, the US Dollar appreciated against the Euro.
| Date | 01.03.19 | 30.04.19 | 31.05.19 | 28.06.19 | 31.07.19 |
|---|---|---|---|---|---|
| Actual | -0.1% | -0.1% | 0.5% | 0.3% | 0.2% |
| Forecast | 0.0% | 0.1% | 0.4% | 0.2% | 0.1% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.90648 | 0.90536 | -0.12% |
| CAD/CHF | 0.75307 | 0.75376 | 0.09% |
| EUR/CAD | 1.46607 | 1.46426 | -0.12% |
| USD/CAD | 1.31563 | 1.31379 | -0.14% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 74.3% | 25.7% |
| CAD/CHF | 61.3% | 38.7% |
| EUR/CAD | 73.3% | 26.7% |
| USD/CAD | 51.4% | 48.6% |
| GMT | Currency | Event | Forecast | Previous |
|---|---|---|---|---|
| 11:00 | GBP | Monetary Policy Summary | - | - |
| 11:00 | GBP | Official Bank Rate | 0.75% | 0.75% |
| 14:00 | USD | ISM Manufacturing PMI | 52.0 | 51.7 |