The $EURUSD pair retreated after the Federal Reserve prepares to start its quantitative tightening policy.
Enter your emailThe pair will likely keep falling as bears target the key support at 1.055.Timeline: 1-2 days.retreated after the Federal Reserve prepares to start its quantitative tightening policy.
The Fed hopes that a combination of balance sheet reduction and high-interest rates will slow the economy and inflation without causing a recession. It has hinted that it will hike interest rates by 0.50% in the next three meetings and then shift to 0.25%. The next key catalyst for the EUR/USD pair will be the upcoming US jobs numbers. On Wednesday, data by the Bureau of Labor Statistics showed that the number of job openings slowed in April. The country had about 11.4 million openings, down from the previous 11.85 million.
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