Euro Unbothered

Forex News

The Euro/Dollar pair rose 0.05% to trade at 1.1792. German ZEW Economic Sentiment dropped 16.1 points. Eurozone ZEW Economic Sentiment fell 12.6. Today, the US features Consumer Price Index, Purchasing Price Index. Additionally, the Fed is expected to execute a 1.75%-2.00% rate hike at its today’s meeting. Fed fund futures are pricing in 94% chance for it. Another highlight of this week is ECB policy statement. Mario Draghi is expected to address the asset purchase program ending and his comments will definitely move EUR/USD.

Markets are focused on the summit between the US and North Korea. Kim Jong Un signed a "comprehensive" letter and the beginning of meeting was hailed as promising. Donald Trump even claimed it was "better than anybody could have expected", adding that the denuclearization process might start "very, very quickly". The discussion, however, might take longer than the President assumes. Overall, markets are very hopeful about the summit.