EUR/USD Assesses Its Prospects – Overview for July 20, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_22-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> pair is currently in a consolidation phase, awaiting <a href="https://blog.roboforex.com/blog/2019/11/28/signals-on-forex-where-to-search-how-to-find-filter-and-create/" data-internallinksmanager029f6b8e52c="101" title="Signals">signals</a>.</p>

<p>The market has reached an equilibrium point and is now eagerly awaiting news.</p>

<p>Next week, both the US Federal Reserve and the European Central Bank will hold meetings. The market anticipates that the Fed may halt <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> hikes due to slowing <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a>. The probability of a 25 basis point rate increase is currently at 99.8%. However, the possibility of the same increase at the September meeting is only 14%, and 26% in November. On the other hand, the ECB is expected to continue raising rates, as its signals regarding the inflationary environment remain uncertain.</p>

<p>Yesterday, the final eurozone inflation data for June was released, with the official <a href="https://blog.roboforex.com/blog/2021/08/25/what-is-consumer-price-index-and-how-to-use-it-in-forex/" data-internallinksmanager029f6b8e52c="197" title="CPI">CPI</a> remaining at 5.5% year-on-year. However, core prices saw an increase to 5.5% year-on-year from the previous 5.4%, indicating that inflation continues to remain uncontrolled.</p>

<p>For the euro, the ECB's continued sentiment for a rate hike is a positive signal. Conversely, the signs of the tight cycle coming to an end are viewed as a burden for the US dollar. From a fundamental perspective, the market's most traded <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a> is poised for further growth.</p>

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