EUR/USD may get pressure from ECB interest rate cut.

Create at 2 weeks ago (Oct 16, 2024 19:57)

Investors are anticipating that the European Central Bank (ECB) will reduce its policy interest rate by 25 basis points (bps) at Thursday's policy meeting, given the lackluster economic data and a continued downward trend in inflation.

 

Additionally, the ECB’s monetary policy statement and remarks by President Christine Lagarde during the post-meeting press conference will provide crucial insights into the central bank’s future policy direction.

 

Meanwhile, investors expect the U.S. Federal Reserve to lower interest rates by a total of 125 bps next year, according to CME's FedWatch tool. As of now, there is a 94.1% probability of a 25 bps rate cut in November.

 

Source: Fxstreet

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