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16:39 · 16 September 2022

EURUSD gains as odds of 100 bps Fed rate hike drop

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EURUSD pair jumped above the parity level following the release of UoM report, which showed sentiment for the US increased to a five-month high of 59.5 in September from 58.2 in August, while the median expected year-ahead inflation rate declined to 4.6%, the lowest reading since last September, from 4.8% last month. Following the release implied odds of a 100 bps Fed hike dropped to 17% from 25%. 

EURUSD par rose sharply in the afternoon and managed to break above local resistance at 1.0015. Source: xStation5

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