EUR/USD Fluctuates, Market Awaits Fed Decision
The EUR/USD pair remained volatile around 1.1700 on Wednesday (April 29th), with the euro weakening for two consecutive days against the US dollar. The currency briefly reached a peak in the Asian session around 1.1720 before retreating, but remains within the range of the past few days.
Market attention is focused on the Federal Reserve's monetary policy decision due later today. Market participants widely expect interest rates to be held on hold, but the primary focus is on Fed Chair Jerome Powell's press conference to gauge the direction of future policy communication amidst market caution.
In Europe, the release of the Eurozone Economic Sentiment Indicator and preliminary German inflation data (HICP) will shape expectations ahead of the European Central Bank's decision on Thursday. The combination of these data and ECB policy signals could potentially determine the extent of the euro's strength in the near term.
Meanwhile, risk sentiment remains clouded by developments in the Iran conflict and fading hopes for swift negotiations, which have helped maintain demand for safe-haven assets, including the US dollar. Investors are also monitoring dynamics in key energy routes and potential logistical disruptions, which could prolong the risk-off phase, especially if regional tensions persist. (asd)
Source: Newsmaker.id
