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EUR/USD Moves Lower Following FOMC Announcement

November 8, 2018 (Last updated on November 9, 2018) by

EUR/USD was moving down today and fell further after the Federal Open Market Committee decided to leave its monetary policy without change.

Initial jobless claims fell a bit from 215k to 214k last week, in line with analysts’ forecasts. (Event A on the chart.)

FOMC left interest rates unchanged to no one’s surprise. (Event B on the chart.) FOMC continued to anticipate additional rate hikes in the future, saying:

The Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective over the medium term. Risks to the economic outlook appear roughly balanced.

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