{"id":152406,"date":"2019-07-29T09:20:41","date_gmt":"2019-07-29T13:20:41","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=152406"},"modified":"2019-07-29T09:20:41","modified_gmt":"2019-07-29T13:20:41","slug":"eurusd-euro-remains-under-pressure-ahead-of-the-fomc-meeting","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/07\/eurusd-euro-remains-under-pressure-ahead-of-the-fomc-meeting\/","title":{"rendered":"EURUSD: euro remains under pressure ahead of the FOMC meeting"},"content":{"rendered":"
July 29, 2019<\/div>
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By Alpari.com<\/a><\/strong><\/p>\n

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Previous:<\/em><\/strong><\/p>\n

Last week, all the majors dropped against the US dollar. The biggest loser was the Kiwi dollar (-1.89%), followed by the Aussie (-1.84%), the Swiss franc (-1.18%), the pound (-0.94%), the yen (-0.87%), the euro (-0.85%), and finally the Canadian dollar (-0.81%).<\/p>\n

In Friday\u2019s US session, the EURUSD pair dropped to 1.1122 following the release of American GDP data for the second quarter, which at 2.1% YoY, was better than predicted. The preliminary figures show that the economic slowdown is not as bad as expected.<\/p>\n

Markets were pleased by this data as we approach the FOMC meeting on the 31st<\/sup> of July. The Federal Reserve is expected to lower the Federal Funds Rate by 25 base points to a range of 2.00 \u2013 2.25%. This rate slash has already been factored in by markets, so Friday\u2019s reaction was based on the assumption that the key rate will be lowered by 25 base points, rather than 50.<\/p>\n

Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n