FX.co ★ Hot Forecast for EUR/USD on 28.10.2024

The faint signs of a potential correction became illusions as the dollar again reinforced its position. This resilience came despite U.S. durable goods orders dropping by 0.8%, notably worse than the anticipated 0.5% decline. Additionally, inflation expectations in the Eurozone have ticked upward, hinting at a potentially slower pace of monetary policy easing by the European Central Bank. In other words, the data pointed toward continuing corrective movement that could strengthen the euro. However, investors seem to lack confidence in the euro's prospects — at least for now. With an empty macroeconomic calendar today, and indeed for the rest of the week, the dollar could continue strengthening its position despite already being overbought.