{"id":104722,"date":"2020-09-16T10:42:10","date_gmt":"2020-09-16T09:42:10","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=104722"},"modified":"2020-09-16T15:27:33","modified_gmt":"2020-09-16T14:27:33","slug":"104317-eur-usd-us-retail-sales-and-the-fed-to-drive-volatility-today","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104317-eur-usd-us-retail-sales-and-the-fed-to-drive-volatility-today\/","title":{"rendered":"EUR\/USD: US Retail Sales and the Fed to Drive Volatility Today"},"content":{"rendered":"<ul>\n<li>EUR\/USD was trading inside a range ahead of significant events.<\/li>\n<li>Government funding was absent during the period of retail sales to be reported today.<\/li>\n<li>The four-hour chart is indecisive.<\/li>\n<\/ul>\n<p>EUR\/USD has been around 1.1850 without much action in either direction for the past few days. Such a price pattern ahead of a critical event like the Federal policy decision is not unusual.<\/p>\n<p>Yet, there are a couple of essential points to be noted. Fed&#8217;s today meeting is the last one ahead of the presidential elections in November &#8211; one that might not indicate any change in the interest rate or the central bank&#8217;s bond-buying program.<\/p>\n<p>Today&#8217;s retail sales figures will come ahead of the Fed policy announcement, and the expectations are for a modest increase. However, it is the first month after the expiry of 600 dollars a week federal-unemployment benefits.<\/p>\n<p>In August, the Fed shifted its stance to a more inflation accommodative policy to allow employment growth. More details regarding the change might be presented today, but the markets have already priced-in the shift to a pro-inflation regime.<\/p>\n<p>The stock market rally has recently lost the fizzle, especially in the tech stocks. A report indicating a Federal Trade Commission antitrust probe against Facebook is also putting pressure on the equities.<\/p>\n<p>Suppose the Fed&#8217;s prognosis on the economy paints a worrying growth picture but offers no additional policy touches like controlling the yield curve or considering a move to negative rates. In that case, stock markets might crash. Such a scenario would be dollar bullish on the back of safe-haven buying.<\/p>\n<p>Before the Fed action, the retail sales downside surprise could weigh on the dollar as consumption forms 70 Percent of the economy.<\/p>\n<p>Hence, traders might expect EUR\/USD to rise if retail sales fall short of expectations; conversely, it would drop if the Fed does not hint at any immediate policy actions.<\/p>\n<p>Coronavirus cases are also increasing in Europe and show signs of an uptick in the US. Investors are pinning their hopes on multiple vaccine prospects in the coming months.<\/p>\n<p>Traders await US events to set the pace of trading today.<\/p>\n<div class=\"su-box su-box-style-default\" id=\"\" style=\"border-color:#000061;border-radius:3px;max-width:none\"><div class=\"su-box-title\" style=\"background-color:#071894;color:#FFFFFF;border-top-left-radius:1px;border-top-right-radius:1px\">EUR Index Today - last 90 days<\/div><div class=\"su-box-content su-u-clearfix su-u-trim\" style=\"border-bottom-left-radius:1px;border-bottom-right-radius:1px\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/9756aac3e5d86b10b3479a81258b807b.png\" alt=\"\" width=\"800\" height=\"348\" class=\"aligncenter size-full wp-image-104718\" srcset=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/9756aac3e5d86b10b3479a81258b807b.png 800w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/9756aac3e5d86b10b3479a81258b807b-300x131.png 300w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/9756aac3e5d86b10b3479a81258b807b-768x334.png 768w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/9756aac3e5d86b10b3479a81258b807b-696x303.png 696w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<div style=\"font-size: 75%; line-height: 1.5;\"><div class=\"su-expand su-expand-collapsed su-expand-link-style-default no-margin\" data-height=\"0\"><div class=\"su-expand-content su-u-trim\" style=\"color:#333333;max-height:0px;overflow:hidden\">Currency Index charts show the <strong>strength of a single currency<\/strong> based on a basket of foreign currencies. This is done using a weighted mean (an average) of the 5 largest routes from that source currency and their daily FX rates. You can explore <a style=\"color:#0088FF\" href=\"\/exchange-rate\/\">live exchange rates here<\/a>.<\/div><div class=\"su-expand-link su-expand-link-more\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">What does this show? <\/span><\/a><\/div><div class=\"su-expand-link su-expand-link-less\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">Show less<\/span><\/a><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>EUR\/USD was trading inside a range ahead of significant events. Government funding was absent during the period of retail sales to be reported today. The four-hour chart is indecisive. EUR\/USD has been around 1.1850 without much action in either direction for the past few days. Such a price pattern ahead of a critical event like [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":5535,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[2139,2412,2689,1408,2131],"class_list":{"0":"post-104722","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-coronavirus","10":"tag-eur-usd","11":"tag-facebook","12":"tag-fed","13":"tag-us-retail-sales"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EUR\/USD: US Retail Sales and the Fed to Drive Volatility Today - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/104317-eur-usd-us-retail-sales-and-the-fed-to-drive-volatility-today\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104317-eur-usd-us-retail-sales-and-the-fed-to-drive-volatility-today\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104317-eur-usd-us-retail-sales-and-the-fed-to-drive-volatility-today\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"EUR\\\/USD: US Retail Sales and the Fed to Drive Volatility Today\",\"datePublished\":\"2020-09-16T09:42:10+00:00\",\"dateModified\":\"2020-09-16T14:27:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104317-eur-usd-us-retail-sales-and-the-fed-to-drive-volatility-today\\\/\"},\"wordCount\":423,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104317-eur-usd-us-retail-sales-and-the-fed-to-drive-volatility-today\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100607-gbp-usd-pound-higher-trade-talks.jpg\",\"keywords\":[\"coronavirus\",\"eur\\\/usd\",\"Facebook\",\"fed\",\"us retail sales\"],\"articleSection\":[\"EUR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104317-eur-usd-us-retail-sales-and-the-fed-to-drive-volatility-today\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104317-eur-usd-us-retail-sales-and-the-fed-to-drive-volatility-today\\\/\",\"name\":\"EUR\\\/USD: US Retail Sales and the Fed to Drive Volatility Today - 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