Euro/Dollar Awaits the Fed’s Decision: Summary for September 19, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_18-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> is in a consolidation phase ahead of the Federal Reserve meeting.</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> is exhibiting stability on Tuesday. The current exchange rate for EUR/USD is at 1.0680.</p>

<p>Since the European Central Bank's meeting, the euro's exchange rate has been attempting to recover, albeit without significant success. In reality, the euro has sustained a weak position for nine weeks, with the euro/dollar pair experiencing a nearly 5% drop over the last three months.</p>

<p>Market sentiment leans towards the belief that the ECB is unlikely to raise 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> above 4%. This is attributed to the weakening state of the eurozone's economy, with the ominous possibility of an upcoming recession.</p>

<p>A pivotal two-day session of the US Federal Reserve commences today. It's a crucial period as the meeting will conclude on Wednesday with a decision regarding the interest rate. It is expected that the rate will remain unchanged at 5.5% per annum. However, the market is keen on the insights provided in the subsequent comments, which will illuminate the regulator's prospective actions.</p>

<p>The market might experience heightened nervousness until the interest rate decision is revealed, accompanied by a speech from Jerome Powell, the Chair of the Fed.</p>

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