EUR/USD attempts to recoup losses from the previous session, trading near 1.1090 during Monday's Asian session.
EUR/USD may face challenges as recent Eurozone inflation data have strengthened the likelihood of an ECB rate cut. Friday’s US economic data raised uncertainty over the likelihood of an aggressive Fed rate cut in September. Chicago Fed President Goolsbee stated that Fed officials are starting to align with the broader market's sentiment of rate adjustment. EUR/USD attempts to recoup losses from the previous session, trading near 1.1090 during Monday's Asian session.
FXStreet’s FedTracker, which uses a custom AI model to evaluate Fed officials' speeches on a dovish-to-hawkish scale from 0 to 10, rated Goolsbee's comments as dovish, assigning them a score of 3.2. ECB FAQs What is the ECB and how does it influence the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy for the region.
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