EUR/USD Review from 07/18/2024

Financial and commodity markets analytics

The EUR/USD pair was in the spotlight amid expectations regarding the decisions of key central banks and inflation data. Investors closely followed the statements of the European Central Bank (ECB) and the US Federal Reserve System (FED), which significantly affected market sentiment.

During the day, yesterday, the pair showed moderate fluctuations, remaining influenced by both macroeconomic data and speculation about the future actions of regulators.

Despite some volatility, the pair remained in a narrow range, reflecting uncertainty in the markets regarding the future monetary policy of the United States and the eurozone.

From a technical point of view, the EUR/USD pair continues to consolidate in a narrow range, in the resistance zone, which indicates the indecision of traders.
The nearest catalyst for the growth of volatility may be the decision of the European Central Bank on the key rate, which will be published later today.