EUR/USD bounces off lows near 1.0870, looks to FOMC By pabspiovano EURUSD Currencies Majors
The dollar recedes from new cycle peaks around 99.75.The European currency regains some composure and manages to liftAfter four consecutive daily pullbacks, EUR/USD finally regains the smile, although not before hitting fresh lows in the 1.0875/70 band during early trade on Wednesday.
In the domestic calendar, Germany Factory Orders contracted at a monthly 2.2% in February and the Construction PMI eased to 50.9 in March. In the broader Euroland, Producer Prices rose less than forecast 1.1% MoM in February and 31.4% over the last twelve months. could raise rates before the end of the year, while higher German yields, elevated inflation, the decent pace of the economic recovery and auspicious results from key fundamentals in the region are also supportive of a rebound in the euro., EMU Producer Prices – EMU Retail Sales, ECB Accounts – France Presidential Election .: Asymmetric economic recovery post-pandemic in the euro area. Speculation of ECB tightening/tapering later in the year. Presidential elections in France in April.
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