EURUSD is rising today on the back of mixed macroeconomic data from the U.S. economy. Markets received a very weak October reading of consumer sentiment, disappointing Richmond Fed data, and lower-than-expected core producer price inflation, both year-over-year and month-over-year. The softer data was further reinforced by a weaker-than-forecast retail sales report, leading investors to conclude that a December Fed rate cut now appears highly likely. As these expectations shift, EURUSD moves higher, with the probability of a Fed cut surging from under 20% last week to nearly 80% today. The dollar is weakening.
Additionally, media reports citing sources familiar with the search for the next Fed chair suggest that Kevin Hassett — considered by many to be one of Trump’s most loyal allies — is becoming the frontrunner. As a result, markets are increasingly convinced that Trump’s “dovish” policy stance will be carried forward by the next Fed leader. Treasury Secretary Bessent indicated that the new Fed chair will likely be chosen before Christmas, and one of their key tasks will be to “simplify” and standardize Fed policy — a direction that aligns with deregulation, something applauded by Wall Street and frequently praised by Hassett.
EURUSD (D1 timeframe)
EURUSD has bounced from the 200-day EMA (red line) and is approaching 1.158, forming a double bottom around 1.152. The short-term trend appears to support further gains toward 1.162.
Source: xStation5
Daily summary: Nervous anticipation, SaaS sell-off and weak macro data
โSaaS-pocalypseโ continued
Three Markets to Watch in the Week Ahead (10.04.2026)
BREAKING: University of Michigan - weaker consument, higher inflation
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
