The Fed delivered an emergency rate cut of 50bps and weighed heavily on the USD. Eurozone PMIs and US economic releases are set to dominate the trading for the day ahead, Haresh Menghani from FXStreet reports. Key quotes “In the press conference that followed the statement, the Fed Chairman Jerome Powel said that the fundamental of the US economy remained strong but the coronavirus outbreak posed evolving risks to the outlook.” “Meanwhile, the yield on the benchmark US 10-year government bond broke the 1% handle to a new record low.” “The EUR/USD pair finally settled around 45 pips off daily swing high and remained on the defensive through the Asian session on Wednesday.” “Market participants now look forward to the final Eurozone PMI prints for some short-term impetus.” “Later during the early North-American session, the US economic releases – ADP report on private-sector employment and the ISM Non-Manufacturing PMI – will influence the USD price dynamics and contribute towards producing some meaningful trading opportunities.” 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 JPY Futures: Further gains likely near-term FX Street 2 years The Fed delivered an emergency rate cut of 50bps and weighed heavily on the USD. Eurozone PMIs and US economic releases are set to dominate the trading for the day ahead, Haresh Menghani from FXStreet reports. Key quotes “In the press conference that followed the statement, the Fed Chairman Jerome Powel said that the fundamental of the US economy remained strong but the coronavirus outbreak posed evolving risks to the outlook.” “Meanwhile, the yield on the benchmark US 10-year government bond broke the 1% handle to a new record low.” “The EUR/USD pair finally settled around 45 pips off daily… 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.
