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by The euro fell to a new two-month low of $1.088. This drop comes as the financial strategies of the European Central Bank (ECB) and the US Federal Reserve start to differ significantly. The EUR/USD 4-hour chart below demonstrates the price, support, and resistance levels.
EURUSD Fundamental Analysis – 15-October-2024
ECB Set for Another Rate Cut, Eurozone Inflation Dips
The ECB will likely lower its deposit rate by 25 basis points this Thursday. This follows earlier cuts in September and June. Market experts predict further rate reductions at each meeting until March. These cuts are in response to a decrease in inflation within the Eurozone, which fell to 1.8%, the lowest since April 2021.
Meanwhile, the US is seeing unexpectedly strong job and inflation figures. This robust data has lessened expectations for substantial rate cuts by the Federal Reserve, adding to the euro’s struggles.
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