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Despite leading the charge in cutting interest rates, representatives of the European Central Bank have clearly emphasized the need for further monetary policy easing. This comes immediately after Federal Reserve Chair Jerome Powell's press conference, during which he explicitly mentioned a pause in the rate cuts process.
It's no surprise that the euro quickly lost all its recent gains and resumed its sharp decline, consistent with the trajectory set after the recent presidential elections in the United States. Based on current developments, the euro is likely to continue its downward movement. However, a brief pause may occur today due to the U.S. public holiday—Veterans Day.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
