The EUR/USD pair rebounds to nearly 1.0835 during the Asian session on Thursday.
EUR/USD trades in positive territory for the second consecutive day around 1.0835 in Thursday’s early Asian session. Fed left interest rate unchanged on Wednesday, but Chair Jerome Powell signalled that the Fed 's September meeting could lead to cuts. Eurozone inflation edges up to 2.6% YoY in July. The weaker US Dollar broadly after the Fed eral Reserve interest rate decision provides some support to the major pair. The US ISM Manufacturing PMI data for July will be the highlight on Thursday.
The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.
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