The EUR/USD pair trades softer below the 1.0900 mark during the early Asian session on Monday.
EUR/USD edges lower to 1.0885 amid the recovery of USD.
is expected to hold its key fed funds rate steady at a 5.25%–5.50% range on Wednesday. ECB’s de Cos said that the central bank could start cutting interest rates in June after a decrease in Eurozone inflation. The monetary policy meeting and press conference on Wednesday will be in the spotlight. The rebound of the US Dollar above 103.50 weighs on the major pair. Investors await the US Federal Open Market Committee's interest rate decision on Wednesday, with no change in rate expected. At press time, EUR/USD is trading at 1.0885, down 0.03% on the day. The University of Michigan showed on Friday that the Consumer Sentiment Index dropped to 76.
is widely expected to hold its key fed funds rate steady at a 22-year high of a 5.25%–5.50% range on Wednesday as Fed officials want to see more evidence of inflation data to ensure it returns to its 2% target before starting to cut the interest rates. That being said, the high-for-longer US rate narrative might lift the US Dollar and act as a headwind for the EUR/USD pair.
interest rate decision on Wednesday. Traders will take cues from the data and find trading opportunities around the EUR/USD pair. EUR/USD Overview Today last price 1.0884 Today Daily Change -0.0005 Today Daily Change % -0.05 Today daily open 1.0889 Trends Daily SMA20 1.0865 Daily SMA50 1.0852 Daily SMA100 1.0858 Daily SMA200 1.0838 Levels Previous Daily High 1.09 Previous Daily Low 1.0873 Previous Weekly High 1.0964 Previous Weekly Low 1.0873 Previous Monthly High 1.0898 Previous Monthly Low 1.
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