13.11.202407:20 Forex Analysis & Reviews: Hot Forecast for EUR/USD on November 13, 2024

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Although the counting of votes for the House of Representatives is not yet complete, there is no longer any doubt that the Republican Party has achieved a resounding victory, securing complete control of both the executive branch, through the White House, and the legislative branch, with a majority in both chambers of Congress. Unsurprisingly, the euro continued to lose ground, as one of the first decisions likely to be made could involve raising tariffs, primarily targeting European manufacturers.

Moreover, the trend toward further euro weakening could be exacerbated by U.S. inflation data. Judging by forecasts, the pace of consumer price growth is expected to accelerate from 2.4% to 2.6%. If this forecast is confirmed, the Federal Reserve will likely pause in its trajectory of further monetary policy easing.

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