EUR/USD: Biden Replacement and ECB Decision Loom
Political uncertainty in the U.S. could significantly impact the EUR/USD as markets brace for tomorrow’s ECB decision. The major political factor may not if President Biden steps down, but who steps up to take his place. Who will the markets like and who will they dislike? This could play out in the EUR/USD.
Biden has said he will reevaluate his candidacy if advised by doctors due to health concerns, possibly setting the stage for his withdrawal from the presidential race. Notably, Democratic Representative Adam Schiff (California) is the latest major figure to urge Biden to step aside as the Democratic nominee for president.
Turning to the more traditional economic event, ING forecasts that the EUR/USD is more likely to hit 1.08 rather than 1.10 following tomorrow’s ECB meeting. The tip of the very clean and tight channel the pair has traveled in since June might suggest resistance at 1.0965.
The European Central Bank is expected to maintain rates steady, a month after its first rate cut in five years. A recent Reuters poll revealed analysts anticipate two additional 0.25 percentage point rate cuts this year, slated for September and December.
Biden has said he will reevaluate his candidacy if advised by doctors due to health concerns, possibly setting the stage for his withdrawal from the presidential race. Notably, Democratic Representative Adam Schiff (California) is the latest major figure to urge Biden to step aside as the Democratic nominee for president.
Turning to the more traditional economic event, ING forecasts that the EUR/USD is more likely to hit 1.08 rather than 1.10 following tomorrow’s ECB meeting. The tip of the very clean and tight channel the pair has traveled in since June might suggest resistance at 1.0965.
The European Central Bank is expected to maintain rates steady, a month after its first rate cut in five years. A recent Reuters poll revealed analysts anticipate two additional 0.25 percentage point rate cuts this year, slated for September and December.
Import the BlackBull Markets Economic Calendar:
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium with BlackBull Markets: blackbull.com/en/platforms/tradingview/?utm_source=tradingview
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium with BlackBull Markets: blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.