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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 335991, member: 104606"] [B][SIZE=4]EURGBP continues to be suppressed during February. Will it rise again?[/SIZE][/B] [img]https://i.imgur.com/okZYgeU.jpeg[/img] The first few weeks of 2024 have been laden with discussion, analysis and speculation regarding the forthcoming position of the US economy, largely due to the United States authorities having been the first to speak publicly about any monetary policy changes for the year ahead, as well as a considerable number of perspectives having been aired in the public domain regarding the US Federal Reserve Bank being the first central bank responsible for major currency to lower interest rates - something which actually did not happen. While the expected announcement of planned reductions in interest rates did not materialise, there has been a lot of comparison between the US economy, and in particular, the US Dollar and Europe's majors, the British Pound and the Euro. What about the monetary situation and economic outlook on the European side of the Atlantic? Both the European Central Bank and the Bank of England have followed similar, highly conservative monetary policies to that of the Federal Reserve over the past two years, and therefore, it would have been likely that perhaps equal expectations of reductions of interest would ensue if the Federal Reserve had actually proceeded down the route that many analysts expected. Now, with the US rates remaining the same, could it be that the European and British central bankers will follow the same path? Judging by the result of the European Central Bank policy meeting, which took place on January 25, at which it was decided that rates would remain unchanged, this appears to be the case so far. Looking at the performance of the EURGBP pair makes for interesting research, given that this chart pattern shows the sentiment within the European Union member states and Britain, all regions where major currencies are the sovereign tender, but without any comparison to the United States. [B][URL="https://fxopen.com/blog/en/gt-eurgbp-continues-to-be-suppressed-during-february-will-it-rise-again/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve"]VIEW FULL ANALYSIS VISIT - FXOpen Blog...[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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