Home Analysis Forex Daily Forecasts – September 20th,2022

Forex Daily Forecasts – September 20th,2022

Forex Daily Forecasts – September 20th,2022 - forexspacex.com

In the Forex Daily Forecasts segment, we provide critical news and information which helps you to seize the opportunity in the financial market.

EUR/USD – Euro US Dollar

The Euro slipped lower on Tuesday morning following an early price rejection from the 21-day exponential moving average near the 1.0023 mark. The price is witnessing a long unwinding ahead of the Federal Open Market committee meeting.

Investors are expecting an aggressive interest rate hike from the Federal Reserve as the current inflation rate is very far from the acceptable rate of 2%. Once the rate is announced it will be easy for traders to establish any directional view.

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GBP/USD – British Pound US Dollar

The British pound is under moderate selling pressure as compared to its peers and is trading 0.02% lower as compared to the previous close. There is not much activity happening in the risk-sensitive currencies ahead of the major market-moving economic events.

However, in the rarest case if the Federal Reserve decides to go with a 50-basis point interest rate hike, then We can expect a minor recovery in GBP/USD price in the short-term. Watch out for the fed’s announcement as the outcome of the FOMC meeting will provide a major catalyst to the financial market.

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AUD/USD – Australian Dollar US Dollar

The AUD/USD is slowly moving towards the 0.6700 level after breaking the previous day’s close. The Australian dollar is at the mercy of the Federal Reserve for the time being and continues to maintain the ask tone through the Asian session on Tuesday morning.

Meanwhile, US treasury yields have posted a modest recovery as the investors wait cautiously for the Federal Open Market committee meeting to finish.

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