Macro Trades: EUR/USD

Dukascopy Bank Team Dukascopy Bank SA

EUR/USD: FOMC Meeting Minutes

The European Common Currency depreciated against the US Dollar, following the FOMC Meeting Minutes data releases on Wednesday at 18:00 GMT. The EUR/USD exchange currency rate lost 14 pips or 0.13% right after the release. The Euro continued trading at the 1.1096 level against the Greenback.

The Federal Reserve released the FOMC Meeting Minutes data, where the US policymakers provide in-depth insights into the economic and financial conditions that influence their vote on where to set interest rates.

According to the release, the US policymakers were divided over the opinion whether to cut interest rate. However, they were united to show that the Fed was not on a path to more cuts. Also, a "couple" of policymakers offered a deeper rate cut to help boost inflation.

EUR/USD: French Flash Services PMI and German Flash Manufacturing PMI

The European Common Currency appreciated against the US Dollar, following the French Flash Services PMI survey results release on Thursday at 07:15 GMT. The EUR/USD exchange currency rate gained 15 pips or 0.13% right after the release. The Euro continued trading at the 1.1095 level against the US Dollar.

Markit released the French Services PMI survey result, which came out better-than-expected of 53.3 compared with the forecast of 52.5.

Also, note, that the German Flash Manufacturing and Services PMIs survey results were released on Thursday 7:30 GMT. The German Flash Manufacturing PMI survay result came better-than-expected of 43.6 compared with the forecast of 43.1. As the result, the Euro appreciated only 7 pips or 0.07% against the US Dollar.

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Dukascopy Bank Team

Dukascopy Bank SA

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