FXStreet reported EUR/USD near $1.1170 in Asian trading Tuesday, leaving the euro below $1.12 as the Fed and European Central Bank (ECB) prepared for policy decisions this week.
FXStreet’s report, published at 9:11 p.m. EDT Monday (01:11 GMT Tuesday), put the pair near that level and below $1.1200. Investing.com’s Oct. 27 daily entry showed 1.1171, with an opening level of 1.1174, a high of 1.1177 and a low of 1.1163. The daily table did not specify a time zone.
The Fed last raised its target range by 25 basis points on Sept. 16, to 3.75%–4.00%, effective Sept. 17, according to its statement. The ECB raised its key rates by 25 basis points in a Sept. 10 decision, effective Sept. 16. That left the deposit facility rate at 2.50%, the main refinancing rate at 2.65% and the marginal lending rate at 2.90%.
In that September decision, the ECB said the Governing Council was “not pre-committing to a particular rate path.” The bank has said incoming data will shape decisions at each meeting, leaving future rate changes open.
FXStreet also reported a 10% probability of a 25-basis-point Fed increase at the October meeting, based on CME FedWatch. CME says the tool derives its probabilities from 30-Day Fed Funds futures. The Associated Press later reported futures pointed to a very low likelihood of an increase; these are market expectations, not a Fed decision.
A separate FXStreet update put the pair below $1.1200 overnight before it regained ground; EconoTimes covered the earlier move.
The Federal Open Market Committee (FOMC) meets Oct. 27–28, and the Federal Reserve calendar lists its statement for 2 p.m. EDT Wednesday. The ECB Governing Council meets Oct. 28–29; its calendar schedules the decision for 9:15 a.m. EDT Thursday (13:15 UTC), followed by a press conference.