EUR/USD knocked lower on Wednesday after the Federal Reserve’s (Fed) latest Meeting Minutes revealed the Federal Open Market Committee (FOMC) are grimly determined to wait for more proof inflation will ease to 2%, sending risk appetite lower as rate-cut-hungry investors keep hoping for dovish signs from the US central bank.
EUR/USD declined on post-FOMC Greenback bid. Odds of a September rate cut are getting a second look from investors. EU & US PMI S in the barrel for Thursday. EUR/USD knocked lower on Wednesday after the Fed eral Reserve’s latest Meeting Minutes revealed the Fed eral Open Market Committee are grimly determined to wait for more proof inflation will ease to 2%, sending risk appetite lower as rate-cut-hungry investors keep hoping for dovish signs from the US central bank.
US PMI figures will follow during Thursday’s US market session, with both the Manufacturing and Services PMIs expected to hold steady at 50.0 and 51.3, respectively. EUR/USD technical outlook EUR/USD has drifted below the 200-hour Exponential Moving Average at 1.0834, and the Fiber is battling to keep afloat of the 1.0820 level. The pair has eased back after a failed bull run at the 1.0900 handle. Daily candles are inching towards the 200-day EMA at 1.
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