Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Back

EUR/USD weakens to near 1.0550 on ECB rate cut bets

  • EUR/USD loses traction to around 1.0550 in Monday’s Asian session.
  • Markets see a potential December rate cut by the Fed. 
  • The ECB is anticipated to cut another 25 bps at its December meeting on Thursday.

The EUR/USD pair trades with a mild negative bias near 1.0550 on Monday during the Asian trading hours. Investors will closely monitor the US Consumer Price Index (CPI) inflation report for November, which is due on Wednesday. On Thursday, the European Central Bank (ECB) interest rate decision will take center stage. Investors will be looking for clues about what comes next.

The expectation of a quarter-point rate cut by the Federal Reserve (Fed) on December 18 grew last week after the employment report showed strong job creation, but not at a pace that would necessarily deter Fed officials from lowering rates to between 4.25 and 4.5% from their current range of 4.5 to 4.75%. 

With hopes high for a US interest rate cut later this month, inflation data on Wednesday could serve as the one remaining potential stumbling block to a third successive rate cut from the Fed. The annual consumer price inflation is expected to rise to 2.7% YoY in November from 2.6% in October. Core inflation, which excludes volatile food and energy prices, is projected to be steady at 3.3% YoY in November. 

The European Central Bank (ECB) is expected to deliver its fourth interest rate cut of the year at its final policy meeting of 2024 on Thursday. Analysts expect the ECB to stick to its data-dependent guidance by reiterating that it “is not pre-committing to a particular rate path.” However, the ECB President Lagarde’s press conference could offer some hints about the interest rate outlook. Any dovish remarks from ECB policymakers could weigh on the Euro (EUR) against the US Dollar. 

Euro FAQs

The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day, according to data from the Bank of International Settlements. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% of all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).


 

 

 

China’s NBS: November inflation data influenced by higher temperatures and a decline in travel demand

China's National Bureau of Statistics (NBS) published a statement following the country’s inflation data.
Read more Previous

GBP/USD consolidates below mid-1.2700s; upside potential seems limited

The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow trading band, below mid-1.2700s during the Asian session.
Read more Next