EUR/USD – Edges higher as European Commission downgrades growth forecasts

<p><a href="https://api.addthis.com/oexchange/0.8/forward/facebook/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Fforex%2Feur%2Feur-usd-edges-higher-as-european-commission-downgrades-growth-forecasts%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/facebook.png" border="0" alt="Facebook" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/twitter/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Fforex%2Feur%2Feur-usd-edges-higher-as-european-commission-downgrades-growth-forecasts%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/twitter.png" border="0" alt="Twitter" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/email/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Fforex%2Feur%2Feur-usd-edges-higher-as-european-commission-downgrades-growth-forecasts%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/email.png" border="0" alt="Email" /></a></p><ul>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The European Commission downgraded its forecasts for the EU this year and next, weighed down by much weaker growth in Germany. The new forecasts won't come as a major surprise and may even prove overly optimistic over time but they do come days ahead of the next ECB meeting and could tempt some policymakers into voting to pause the tightening cycle."}]}" data-slate-node="element"><strong>EC downgrades eurozone growth for this year and next</strong></li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The European Commission downgraded its forecasts for the EU this year and next, weighed down by much weaker growth in Germany. The new forecasts won't come as a major surprise and may even prove overly optimistic over time but they do come days ahead of the next ECB meeting and could tempt some policymakers into voting to pause the tightening cycle."}]}" data-slate-node="element"><strong>Will the ECB be deterred if their forecasts have similar downgrades?</strong></li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The European Commission downgraded its forecasts for the EU this year and next, weighed down by much weaker growth in Germany. The new forecasts won't come as a major surprise and may even prove overly optimistic over time but they do come days ahead of the next ECB meeting and could tempt some policymakers into voting to pause the tightening cycle."}]}" data-slate-node="element"><strong>EURUSD slips below key support ahead of US inflation data and ECB</strong></li>
</ul>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The European Commission downgraded its forecasts for the EU this year and next, weighed down by much weaker growth in Germany. The new forecasts won't come as a major surprise and may even prove overly optimistic over time but they do come days ahead of the next ECB meeting and could tempt some policymakers into voting to pause the tightening cycle."}]}" data-slate-node="element"><span data-slate-node="text">The European Commission downgraded its forecasts for the EU this year and next, weighed down by much weaker growth in Germany. </span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The European Commission downgraded its forecasts for the EU this year and next, weighed down by much weaker growth in Germany. The new forecasts won't come as a major surprise and may even prove overly optimistic over time but they do come days ahead of the next ECB meeting and could tempt some policymakers into voting to pause the tightening cycle."}]}" data-slate-node="element"><span data-slate-node="text">The new forecasts won&#8217;t come as a major surprise and may even prove overly optimistic over time but they do come days ahead of the next ECB meeting and could tempt some policymakers into voting to pause the tightening cycle.</span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"ECB policymakers will obviously be armed with their own forecasts when it comes to the vote but it's likely their growth expectations will be revised lower on the basis of recent releases. While markets are currently pricing in a pause this week, around 60/40 at the time of writing, I'm probably leaning more toward a final hike before pausing in October. "}]}" data-slate-node="element"><span data-slate-node="text">ECB policymakers will obviously be armed with their own forecasts when it comes to the vote but it&#8217;s likely their growth expectations will be revised lower on the basis of recent releases. While markets are currently pricing in a pause this week, around 60/40 at the time of writing, I&#8217;m probably leaning more toward a final hike before pausing in October. </span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's probably easier to justify a hike this week than it may be at the end of next month and I'm not sure there's enough desire at the ECB to stop at the current rates. Weaker economic readings will probably drive a lively debate and they obviously won't suggest, if they do hike, that it's job done, rather more finely balanced. But they can't ignore the progress in recent months, other economic indicators and lag effect of past moves."}]}" data-slate-node="element" data-slate-fragment="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"><span data-slate-node="text">It&#8217;s probably easier to justify a hike this week than it may be at the end of next month and I&#8217;m not sure there&#8217;s enough desire at the ECB to stop at the current rates. Weaker economic readings will probably drive a lively debate and they obviously won&#8217;t suggest, if they do hike, that it&#8217;s job done, rather more finely balanced. But they can&#8217;t ignore the progress in recent months, other economic indicators, and the lag effect of past moves.</span></p>
<p style="text-align: center" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's probably easier to justify a hike this week than it may be at the end of next month and I'm not sure there's enough desire at the ECB to stop at the current rates. Weaker economic readings will probably drive a lively debate and they obviously won't suggest, if they do hike, that it's job done, rather more finely balanced. But they can't ignore the progress in recent months, other economic indicators and lag effect of past moves."}]}" data-slate-node="element" data-slate-fragment="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"><iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/-jbcH72HJ8o?si=gGf5-t6wEjQjuHDo" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's probably easier to justify a hike this week than it may be at the end of next month and I'm not sure there's enough desire at the ECB to stop at the current rates. Weaker economic readings will probably drive a lively debate and they obviously won't suggest, if they do hike, that it's job done, rather more finely balanced. But they can't ignore the progress in recent months, other economic indicators and lag effect of past moves."}]}" data-slate-node="element" data-slate-fragment="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"><strong>A cautious breakout but perhaps still a significant one</strong></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's probably easier to justify a hike this week than it may be at the end of next month and I'm not sure there's enough desire at the ECB to stop at the current rates. Weaker economic readings will probably drive a lively debate and they obviously won't suggest, if they do hike, that it's job done, rather more finely balanced. But they can't ignore the progress in recent months, other economic indicators and lag effect of past moves."}]}" data-slate-node="element" data-slate-fragment="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">Recent strength in the US dollar has prompted a breakout against the euro in the last week which may prove to be very significant.</p>
<p style="text-align: center" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's probably easier to justify a hike this week than it may be at the end of next month and I'm not sure there's enough desire at the ECB to stop at the current rates. Weaker economic readings will probably drive a lively debate and they obviously won't suggest, if they do hike, that it's job done, rather more finely balanced. But they can't ignore the progress in recent months, other economic indicators and lag effect of past moves."}]}" data-slate-node="element" data-slate-fragment="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"><strong>EURUSD Daily</strong></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's probably easier to justify a hike this week than it may be at the end of next month and I'm not sure there's enough desire at the ECB to stop at the current rates. Weaker economic readings will probably drive a lively debate and they obviously won't suggest, if they do hike, that it's job done, rather more finely balanced. But they can't ignore the progress in recent months, other economic indicators and lag effect of past moves."}]}" data-slate-node="element" data-slate-fragment="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"><a href="https://www.marketpulse.com/wp-content/uploads/2023/09/EURUSD_2023-09-11_16-29-58.png" target="_blank" rel="noopener"><img loading="lazy" class="aligncenter wp-image-807494" src="https://www.marketpulse.com/wp-content/uploads/2023/09/EURUSD_2023-09-11_16-29-58-1024×507.png" alt="" width="620" height="307" srcset="https://www.marketpulse.com/wp-content/uploads/2023/09/EURUSD_2023-09-11_16-29-58-1024×507.png 1024w, https://www.marketpulse.com/wp-content/uploads/2023/09/EURUSD_2023-09-11_16-29-58-300×149.png 300w, https://www.marketpulse.com/wp-content/uploads/2023/09/EURUSD_2023-09-11_16-29-58-768×380.png 768w, https://www.marketpulse.com/wp-content/uploads/2023/09/EURUSD_2023-09-11_16-29-58-1536×761.png 1536w, https://www.marketpulse.com/wp-content/uploads/2023/09/EURUSD_2023-09-11_16-29-58.png 1835w" sizes="(max-width: 620px) 100vw, 620px" /></a></p>
<p style="text-align: right" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's probably easier to justify a hike this week than it may be at the end of next month and I'm not sure there's enough desire at the ECB to stop at the current rates. Weaker economic readings will probably drive a lively debate and they obviously won't suggest, if they do hike, that it's job done, rather more finely balanced. But they can't ignore the progress in recent months, other economic indicators and lag effect of past moves."}]}" data-slate-node="element" data-slate-fragment="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">Source &#8211; OANDA on Trading View</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's probably easier to justify a hike this week than it may be at the end of next month and I'm not sure there's enough desire at the ECB to stop at the current rates. Weaker economic readings will probably drive a lively debate and they obviously won't suggest, if they do hike, that it's job done, rather more finely balanced. But they can't ignore the progress in recent months, other economic indicators and lag effect of past moves."}]}" data-slate-node="element" data-slate-fragment="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">While it continues to trade in a descending channel, the pair has broken below the 200/233-day simple moving average band for the first time since November. It then ran into support around 1.07 which has been a notable level of support in the past and the May low isn&#8217;t far below here.</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's probably easier to justify a hike this week than it may be at the end of next month and I'm not sure there's enough desire at the ECB to stop at the current rates. Weaker economic readings will probably drive a lively debate and they obviously won't suggest, if they do hike, that it's job done, rather more finely balanced. But they can't ignore the progress in recent months, other economic indicators and lag effect of past moves."}]}" data-slate-node="element" data-slate-fragment="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">The interesting thing is that while the breakout hasn&#8217;t been the catalyst for a sharper move lower, yet, the decline isn&#8217;t lacking momentum. The MACD and stochastic are continuing to make new lows alongside price. Perhaps the MACD histogram is an exception but even this isn&#8217;t particularly clear.</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's probably easier to justify a hike this week than it may be at the end of next month and I'm not sure there's enough desire at the ECB to stop at the current rates. Weaker economic readings will probably drive a lively debate and they obviously won't suggest, if they do hike, that it's job done, rather more finely balanced. But they can't ignore the progress in recent months, other economic indicators and lag effect of past moves."}]}" data-slate-node="element" data-slate-fragment="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">A break of the May low could confirm the move and see the sell-off accelerate. But with the US CPI to come on Wednesday and the ECB meeting on Thursday, there may be some apprehension among traders. That may even explain why it&#8217;s been more of a cautious breakout until this point.</p>