The EUR/USD pair struggles to gain any meaningful traction during the Asian session on Thursday and oscillates in a narrow band, just above the 1.1000 psychological mark, or a four-week low touched the previous day.
EUR/USD holds steady above the 1.1000 mark as traders keenly await the ECB policy decision. Reduced bets for a more aggressive Fed easing underpin the USD and cap gains for the major. Traders seem reluctant ahead of the key central bank event risk and the release of the US PPI. Traders seem reluctant and opt to wait for the highly-anticipated European Central Bank policy meeting before positioning for the next leg of a directional move.
This, along with the upbeat market mood, caps any further appreciating move for the safe-haven Greenback. This should continue to offer some support to the EUR/USD pair heading into the key central bank event risk and warrants caution for bearish traders. Investors might also prefer to wait for the ECB's updated economic projections, which, along with ECB Christine Lagarde's comments, will influence the Euro.
ECB Interestrate Fed Currencies
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Forecast: EUR/USD gaining bearish traction near 1.1000The EUR/USD pair is pressured, trading near its daily low at 1.1027.
Read more »
EUR/USD Forecast: EUR/USD pressures 1.1000 after disappointing US CPIThe EUR/USD pair heads into the United States (US) opening trading near a fresh four-week low of 1.1002, as the US Dollar surged following the release of Consumer Price Index (CPI) figures.
Read more »
EUR/USD Forecast: EUR/USD poised to extend decline towards 1.1000The EUR/USD pair eased towards 1.1035 during European trading hours, as the Euro got hit by poor local data fueling concerns about the Eurozone’s economic performance.
Read more »
EUR/USD holds ground below 1.1100, faces challenges due to rising odds of ECB rate cutEUR/USD attempts to recoup losses from the previous session, trading near 1.1090 during Monday's Asian session.
Read more »
EUR/USD corrects slightly on firm bets of Fed, ECB September interest-rate cutsEUR/USD corrects slightly from 1.1200, the highest level seen in more than a year, in Monday’s European session.
Read more »
EUR/USD trades cautiously ahead of US inflation, ECB monetary policyEUR/USD struggles to gain ground near its weekly low of 1.1030 in Tuesday’s European session.
Read more »