Forex Analysis by Investing.com (Günay Caymaz) covering: EUR/USD. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
The EUR/USD pair is gaining momentum as expectations rise for a jumbo Fed rate cut in November.Watch for critical support at 1.1125; a weekly close above this level could signal further bullish potential.pair is rising as the Fed gears up to deliver another jumbo rate cut, fueled by growing concerns about the U.S. economy.
It’s crucial that today’s third growth reading for the U.S. economy doesn’t deviate significantly to alleviate rising recession concerns. Employment data will also capture the Fed’s focus ahead of its next interest rate decision on November 7.Another key topic this week is the People's Bank of China , which is expected to announce additional stimulus measures to revive its economy.
Recent data indicate a slowdown in the European economy, which may compel the European Central Bank to continue cutting rates.Yesterday, the EUR/USD pair surged to 1.1214, marking its highest level in a year, but quickly retreated toward the 1.1125 support level.
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