The dollar rose again

October 29, 2015

On Thursday morning, the main currency pair is still trading down because of mass pressure on the European currency. So, the euro/dollar in the morning on Thursday remained under pressure, although it is taking a very half-hearted attempt to win back at least a symbolic part of yesterday's losses. The current price in the pair is 1.0943.

Yesterday a two-day meeting of the US Federal Reserve has ended. All decisions proved to be extremely anticipated: the interest rate was kept at the target range of 0-0.25% per annum, and on the December meeting to be held 15-16.12, monetary policy will be considered again.

The Fed's subsequent comments will be interesting. From the accompanying speech, for example, disappeared a standard reference to the inflation rate as a high risk. This could mean a smooth preparation of the American regulator to raise rates under the current internal and external pressure. According to the evaluation of the Fed, the US economy is growing at a moderate pace.

Already today, by the way, we will be able to see with what pace this economy is growing. Thursday night data on US GDP will come out. According to the average market expectations, the pace of growth of the system will be significantly lower due to the drawdown of export options. The consensus forecast assumes GDP growth of 1.5% against the strengthening of the index by 3.9% in the previous quarter.

The farther the real figures will be on US GDP from the projected levels, the greater will be the swing of the EUR/USD tonight.
RoboForex Analytical Department

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