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FOMC Meeting Minutes Offer Support To The US Dollar (EUR/USD), Improved Market Attitude Favoured The GBP On Thursday (EUR/GBP, GBP/USD), Market Awaits RBA Monetary Policy - Good Morning Forex!

FOMC Meeting Minutes Offer Support To The US Dollar (EUR/USD), Improved Market Attitude Favoured The GBP On Thursday (EUR/GBP, GBP/USD), Market Awaits RBA Monetary Policy - Good Morning Forex!| FXMAG.COM
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Table of contents

  1. Mixed sentiment for the EUR/USD
    1. GBP strengthens
    2. GBP/USD reflecting bullish sentiment
    3. Future of the AUD waits the RBA monetary policy decision

Summary:

  • Investor confidence in both the Euro and US Dollar causing mixed sentiment for the EUR/USD currency pair.
  • GBP beats Euro and USD despite poor PMI data released on Tuesday.
  • RBA June policy meeting will determine the AUD strength

Read next: Hawkish ECB Bodes Well For The Euro, UK PMI Data Disappoints (EUR/GBP), Hawkish SNB Offers Swiss Franc Still Support (USD/CHF), AUD/JPY - Good Morning Forex! 

Mixed sentiment for the EUR/USD

The market is reflecting mixed market signals for this major currency pair. In the Wake of the FOMC meeting minutes, the US Dollar has found some stability. The market can expect a 50bp interest rate hike at the next two Fed meetings, with a possible pause in the hikes later on in the year.

The Euro is also on an upward streak with the strong possibility of the European Central Bank (ECB) tightening monetary policy in July.

fomc meeting minutes offer support to the us dollar eur usd improved market attitude favoured the gbp on thursday eur gbp gbp usd market awaits rba monetary policy good morning forex grafika numer 1fomc meeting minutes offer support to the us dollar eur usd improved market attitude favoured the gbp on thursday eur gbp gbp usd market awaits rba monetary policy good morning forex grafika numer 1 EUR/USD Price Chart

GBP strengthens

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The market is reflecting bearish market sentiment for this currency pair. On Thursday the GBP recovered some of its losses against the Euro after the UK PMI report on Tuesday. Improved market attitude acted in favour of the Pound Sterling against the Euro on Thursday. However, the outlook for the GBP still looks challenging going forward with an overly cautious Bank of England, high-inflation and global risk aversion.

fomc meeting minutes offer support to the us dollar eur usd improved market attitude favoured the gbp on thursday eur gbp gbp usd market awaits rba monetary policy good morning forex grafika numer 2fomc meeting minutes offer support to the us dollar eur usd improved market attitude favoured the gbp on thursday eur gbp gbp usd market awaits rba monetary policy good morning forex grafika numer 2 EUR/GBP Price Chart

GBP/USD reflecting bullish sentiment

Market sentiment for this currency pair is reflecting bullish signals. On Thursday the GBP recovered some of its losses against the US Dollar. Improved market attitude acted in favour of the Pound Sterling against the US Dollar on Thursday.

fomc meeting minutes offer support to the us dollar eur usd improved market attitude favoured the gbp on thursday eur gbp gbp usd market awaits rba monetary policy good morning forex grafika numer 3fomc meeting minutes offer support to the us dollar eur usd improved market attitude favoured the gbp on thursday eur gbp gbp usd market awaits rba monetary policy good morning forex grafika numer 3 GBP/USD Price Chart

Future of the AUD waits the RBA monetary policy decision

The market is reflecting bullish signals for this currency pair. The Reserve Bank of Australia (RBA) June policy meeting will likely see a future hike in interest rates. If the RBA tightens their monetary policy the Australian Dollar could strengthen. If the RBA chooses a dovish approach, the Aussie Dollar could struggle.

fomc meeting minutes offer support to the us dollar eur usd improved market attitude favoured the gbp on thursday eur gbp gbp usd market awaits rba monetary policy good morning forex grafika numer 4fomc meeting minutes offer support to the us dollar eur usd improved market attitude favoured the gbp on thursday eur gbp gbp usd market awaits rba monetary policy good morning forex grafika numer 4 AUD/USD Price Chart

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Read next: EUR Falls To US Dollar (EUR/USD), Pound Sterling Due To Weaken As UK Recession Looms (EUR/GBP), Market Awaits Fed Meeting Minutes (USD/CHF, GBP/USD) 

Sources: finance.yahoo.com, dailyfx.com, poundtserlinglive.com


Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance. 


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