The dollar also appears side-lined amidst flat yields.
Absent releases in the euro area, the focus of attention should gyrate to the US docket, where the Conference Bureau Leading Index and Existing Home Sales will take centre stage along with the speech by Boston Fed President Susan Collins.EURUSD trades within a narrow range amidst the broad-based indecision in the global markets, always below the 1.0400 mark and with the 200-day Simple Moving Average at 1.0411.
Back to the euro area, the increasing speculation of a potential recession in the region - which looks propped up by dwindling sentiment gauges as well as an incipient slowdown in some fundamentals – emerges as the main headwinds facing the euro in the short-term horizon.: Continuation of the ECB hiking cycle vs. increasing recession risks. Impact of the war in Ukraine and the persistent energy crunch on the region’s growth prospects and inflationSo far, the pair is gaining 0.10% at 1.
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