EUR/USD Faces Compelled Retreat: Overview for January 26, 2024

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_9-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>Selling pressure has heightened in the <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> pair.</p>

<p>The primary <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> experiences a decline on Friday, with the current EUR/USD quote resting at 1.0842.</p>

<p>In its January meeting, the European Central Bank opted to maintain the existing monetary policy structure, keeping the <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> steady at 4.5% per annum, a historical high.</p>

<p>The ECB clarified that the rate is defensively positioned, allowing for a deceleration in the pace of <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> growth in the future. Concerning the PEPP refinancing program, the ECB plans to continue its collaboration and fully reinvest the funds obtained from securities. The second-half strategy involves a reduction of the ECB portfolio by 7.5 billion euros, culminating in the complete cessation of the program by the end of 2024.</p>

<p>As per the preliminary estimate, the US <a href="https://blog.roboforex.com/blog/2019/10/29/trading-news-how-to-make-money-on-gdp/" data-internallinksmanager029f6b8e52c="93" title="GDP">GDP</a> for Q4 2023 has surged by 3.3%, surpassing the projected growth rate of 2.0%. This <a href="https://blog.roboforex.com/blog/2022/03/04/divergence-and-convergence-in-trading-how-to-use-signals/" data-internallinksmanager029f6b8e52c="308" title="Divergence, Convergence">divergence</a> indicates a more robust performance of the US economy compared to its European counterpart, implying that the Federal Reserve could contemplate an interest rate cut.</p>

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<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2024/01/26/eur-usd-faces-compelled-retreat-overview-for-january-26-2024/">EUR/USD Faces Compelled Retreat: Overview for January 26, 2024</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>