According to analysts from Rabobank, the EUR/USD pair has reached a critical technical pivot around the 1.11 level. Key Quotes: “A prime market driver this year has been speculation about the extent of Fed rate cuts. The market consensus that this would inevitable bring a weaker USD has, however, been repeatedly disappointed. It has become increasingly clear that other central banks are also sensitive to slowing world growth, not least the ECB.” “The EUR was whipsawed by the market’s reaction to the latest ECB press conference but the remarks from President Draghi that a “significant degree” of monetary stimulus is needed leaves open the risk of a cut in the deposit rate in September further into negative territory.” “In recent months, the hopes for further monetary stimulus have provided support for risky assets. However, persistent signs of slowing world growth suggest there is a risk of a move back into safer assets.” “Given the risk of wobbling appetite for EM assets in coming months, we see risk of an increase in USD demand and a dip towards EUR/USD 1.10 on a 3-month view. We would then expect a moderate recovery towards the 1.15 area in 2020 on the assumption that the pace of Fed rate cuts accelerates.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD trading between key levels on 1.11 handle, it hangs in the balance of the Fed’s statement FX Street 4 years According to analysts from Rabobank, the EUR/USD pair has reached a critical technical pivot around the 1.11 level. Key Quotes: "A prime market driver this year has been speculation about the extent of Fed rate cuts. The market consensus that this would inevitable bring a weaker USD has, however, been repeatedly disappointed. It has become increasingly clear that other central banks are also sensitive to slowing world growth, not least the ECB." "The EUR was whipsawed by the market's reaction to the latest ECB press conference but the remarks from President Draghi that a "significant degree" of monetary stimulus… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
