An uneventful week ended with some more action, as choppy trading prevailed until Thursday.
Fed eral Reserve officials flooded the newsfeeds but failed to trigger a reaction. Timid signs of European recovery fell short of boosting the Euro. EUR/USD maintains a neutral tone below 1.0800, bulls add slowly. The EUR/USD pair seesawed in a tight range just above the 1.0700 threshold for most of the week, with the US Dollar finally giving up and extending its slide while heading into the weekly close.
Overall, Fed officials reiterated that they would need more confidence in inflation easing towards the 2% goal before pulling the trigger, while the more gloomy perspectives believe there’s a risk of trimming rates too soon. At least all agree that economic progress is on a good path. The one thing we learned this week is that market participants acknowledged that central banks will keep rates at current levels for as long as possible but are still longing for widespread rate cuts.
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