The EURUSD fell below 1.19 again and is trading at its lowest level since March 10. The pair are currently testing the 61.8 Fibonacci retracement of the recent upward wave that started in early November, which coincides with the upper limit of the summer consolidation zone. As one can see TNOTE indicates that the dollar should be stronger. TNOTE returned to declines (yields to increases) after the Federal Reserve announced it will let the leverage ratio for big banks expire March 31st. Nevertheless, at the moment TNOTE is still close to the recent local lows.
Fed Chair Powell published an essay in the WSJ on the bank's activities during the pandemic. Unfortunately, this did not provide new guidelines for investors to follow. This means that there is currently no reason for the dollar to weaken.. The hope for the euro is of course a faster recovery from the pandemic hit, but at the moment there are no significant signs of improvement yet.

Daily Summary – Wall Street Rally Driven by Powell’s Promises
Fed's Miran signals two more rate cuts this year and disinflationary process🗽
Fed Collins remarks on monetary policy and US economy🏛️EURUSD gains 0.2%
Morning wrap (15.10.2025)