The EUR/USD pair maintains a steady state, poised for the Federal Reserve's decision.
The primary currency pair is in a consolidation phase this Wednesday. The present EUR/USD exchange rate is recorded at 1.0788.
The conclusion of the US Federal Reserve's two-day meeting is today. Now, it's a waiting game for the facts, as all the forecasts have already been articulated.
The recently unveiled US inflation figures from yesterday prompt contemplation. November saw the consumer price index rise by 0.1% m/m, contrary to the market's zero expectation. In the year-on-year assessment, it grew by 3.1%, in line with predictions. This is a marginal drop from the 3.2% y/y estimated a month ago.
Core inflation holds steady at 4.0% y/y.
While the inflation report seems neutral, the positive momentum seems to have diminished. The Federal Reserve's assessment of these statistics will be crucial.
Anticipate increased EUR/USD volatility in the afternoon.