16:39 · 16 September 2022

EURUSD gains as odds of 100 bps Fed rate hike drop

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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