Euro heads for an end to its five-week losing streak as Warsh’s remarks weigh on the dollar
💶 EUR/USD rose about 0.3% to around 1.125 on October 16, recovering from a 17-month low reached earlier in the week and heading toward its first weekly gain after five consecutive declines.
🏦 Fed Chair Kevin Warsh declined to prejudge upcoming rate decisions, prompting traders to scale back bets on an October hike and weighing on the dollar. His remarks, however, did not amount to a commitment to keep rates unchanged.
⚖️ The rebound eases pressure on the euro but does not yet confirm a trend reversal. French fiscal risks and uncertainty over Fed policy could still limit gains, while ending the losing streak depends on the weekly close.
#EURUSD $FOGO
💶 EUR/USD rose about 0.3% to around 1.125 on October 16, recovering from a 17-month low reached earlier in the week and heading toward its first weekly gain after five consecutive declines.
🏦 Fed Chair Kevin Warsh declined to prejudge upcoming rate decisions, prompting traders to scale back bets on an October hike and weighing on the dollar. His remarks, however, did not amount to a commitment to keep rates unchanged.
⚖️ The rebound eases pressure on the euro but does not yet confirm a trend reversal. French fiscal risks and uncertainty over Fed policy could still limit gains, while ending the losing streak depends on the weekly close.
#EURUSD $FOGO