Investors are expecting a 50bps hike in the next Fed meeting. Daly believes the upcoming economic data might call for a 75bps hike. She believes that rates should go up to 3.4% this year. The EUR/USD price analysis suggests bearish momentum as the price turns back below 1.0300 amid Fed’s rate hike speculation. –Are you interested to learn more about day trading brokers? Check our detailed guide- President of the San Francisco Federal Reserve Bank Mary Daly stated on Thursday that while a half-point increase in interest rates in September “makes sense,” she is open to the prospect of a more significant increase to combat excessive inflation. “I still think 50 basis points is the case, but I am open to 75 should the data evolve differently,” Daly told Bloomberg TV. Noting that further employment and inflation data will be available before the Fed’s meeting on September 20-21, she cautioned against being “head-faked” by the recent improvement in inflation readings. Daly’s hawkish stance came the day after a Labor Department report revealed that consumer prices did not increase in July relative to the previous month. The day after, a report revealed that producer prices unexpectedly dropped in July. Interest-rate futures traders increased their wagers on a rate increase of 50 basis points that Daly believes is most likely at the upcoming Fed meeting. It is supported by the glint of reprieve from the inflation that had been steadily increasing. She reiterated that rates need to climb to approximately 3.4% this year and higher next year to restrain growth and lower inflation. Since March, the Fed has lifted its short-term policy rate from zero to a current range of 2.25%-2.5%. EUR/USD key events today Investors expect the Eurozone Industrial Production value, which quantifies the change in the total value of the output produced by factories, mines, and utilities after accounting for inflation. From the United States, there will be the Michigan consumer sentiment and expectation reports. Get FREE Forex Signals Now! EUR/USD technical analysis: Bulls rejected above 1.03500 Looking at the 4-hour chart, the price failed to close above 1.03500 as the level offered solid resistance. The price is trading above the 30-SMA, a sign that bulls are in control. This control can also be seen in the RSI, which supports bullish momentum above 50. -Are you looking for the best CFD broker? Check our detailed guide- The price is retesting support at 1.02863, which might consolidate before the SMA catches up and break above 1.03500. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal EUR/USD Daily share Read Next USD/CHF Forecast: Mix Data Keeping Dollar Under Pressure Saqib Iqbal 2 months Investors are expecting a 50bps hike in the next Fed meeting. Daly believes the upcoming economic data might call for a 75bps hike. She believes that rates should go up to 3.4% this year. The EUR/USD price analysis suggests bearish momentum as the price turns back below 1.0300 amid Fed's rate hike speculation. –Are you interested to learn more about day trading brokers? Check our detailed guide- President of the San Francisco Federal Reserve Bank Mary Daly stated on Thursday that while a half-point increase in interest rates in September "makes sense," she is open to the prospect of a… 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.