The euro gave up considerable ground yesterday as the EURUSD slipped to session lows of 1.1188, and continued to price in the possibility of a Brexit. The euro was further pressured when with the risk of a Brexit, German Bund Yields turned negative on Tuesday.
The USD is holding on well the recovery gains made since last Thursday. The US Dollar index (DXY) is at 94.91 at the time of writing. Late today (2000Hrs CET) the FOMC is set to make public its latest rate decision – consensus figures are pointing towards a no change given the last unimpressive NFP figures released for May. The Fed will also be releasing a summary of its economic projections.
EURUSD has traded in the range of 1.1189:1.1214 so far this morning, trend remains bearish on Market Trends http://www.realtimeforex.com/technical-analysis/forex-market-trends/ and Tradertip is seeing next support at 1.1165 http://www.realtimeforex.com/technical-analysis/trader-tip/EUR-USD/15.06.2016/
Sentiment in Asia this morning turned positive and the major equity indices managed to recover ealrier losses despite events such as the Fed later today and possibility of Brexit next week, overshadowing current sentiment.
The highlight on today’s economic docket is all for the Fed decision this evening, tomorrow as well its the BoJ’s turn to release its monetary policy statement.
