EUR/USD extends its downside around the psychological support of 1.0500 in Wednesday’s European session.
EUR/USD tests region below 1.0500 as the Euro weakens, weighed by expectations of further ECB interest-rate cuts. The ECB is expected to cut its Deposit Facility rate by 25 bps on Thursday for the third meeting in a row. Investors await the US inflation data for fresh interest-rate guidance.
Economists expect annual headline inflation to have accelerated to 2.7% from the October reading of 2.6%. In the same period, the core CPI – which excludes volatile food and energy prices – is expected to have risen steadily by 3.3%. The month-on-month headline and core CPI are estimated to have grown by 0.3%.
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