The EURUSD finished trading last week near the 0.97398 mark: Trading Forecast Forex
finished trading last week near the 0.97398 mark, this after suffering a rather robust amount of selling on Thursday and Friday.
The ECB remains rather sluggish with interest rate policy compared to many of the other major central banks, outside of the Bank of Japan. However, when it became clear towards the end of the week that this was wishful thinking the EUR/USD took aturn. Support levels quickly became vulnerable and the 0.99000 mark was penetrated on Thursday and never recovered with a sustained amount of trading above this level.
If the ECB raises rates at the end of October, it will still be below the curve created by the U.S Federal Reserve. This fact may fundamentally keep the EUR/USD under parity in the near term; if large Forex traders remain convinced the ECB will remain more dovish with their interest rate policy, due to financial concerns regarding debt in the European Union it will not help bullish EUR/USD perspectives.
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