Dollar rises to all currencies expecting the harsh statements of the fed
During the European trading session the US dollar was trading in positive territory for all major currencies. Market participants are trying to occupy a favorable position ahead of the fed’s decision on rates.
The Euro came under pressure from the falling cross pairs Euro/pound. Downside momentum the pair gave the chief negotiator from the EU Brexit, Michel Barnier. He said that the group of authorised persons working on an orderly process Brexit and the creation of a new partnership with Britain. His statement helped the pound to strengthen against the Euro, but not against the dollar.
EUR/USD pair decreased to the level of 1,1730. Price lay on the trend line. Sellers need to undergo 1,1720 to hook protective feet buyers and increase the downward movement to 1,1690.
The market participants ‘ attention focused on the press conference of the head of the fed Jerome Powell, which will be held after the FOMC meeting. It is unlikely I will go on the offensive. Judging by the strengthening dollar, traders expect hawkish comments.
The balance of retail sales for September in the UK amounted to +23% (forecast was +13%, the previous value of +29%).