The EUR/USD pair extends the upside around 1.0850 on Monday during the early Asian session.
EUR/USD gains traction near 1.0850 in Monday’s early Asian session. Markets believe the Fed needs more evidence to gain confidence that inflation is on course to its 2% target. The European Central Bank is widely expected to cut the rate on Thursday. The cooler US PCE inflation data and the better-than-expected Eurozone HICP inflation data provide some support for the major pair.
However, the recent data was not sufficient to trigger the Fed rate cut expectation, as investors believe the Fed needs more evidence to gain confidence that inflation is on course to reach its 2% target. The hotter-than-expected inflation in the Eurozone might not stop the ECB fromcutting interest rates this week, but it may signal a halt in July and slower rate reductionsin the coming months.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Forecast: EUR/USD steady sub-1.0900 ahead of fresh cluesThe EUR/USD saw little action on Monday, hovering around the 1.0860 mark for most of the day.
Read more »
EUR/USD remains above 1.0800 ahead of Eurozone PMIEUR/USD treads water to halt its three-day losing streak, hovering around 1.0820 during the Asian session on Thursday.
Read more »
EUR/USD holds positive ground above 1.0750 ahead of Eurozone PMI, PPI dataThe EUR/USD pair trades in positive territory for the fourth consecutive day near 1.0765 on Monday during the early Asian trading hours.
Read more »
EUR/USD rebounds strongly from 1.0800 after strong Eurozone PMI reportEUR/USD witnesses a stellar buying interest after posting a fresh weekly low near the crucial support of 1.0800 in Thursday’s European session.
Read more »
EUR/USD posts modest gains near 1.0850 on stronger PMI, weaker US DollarThe EUR/USD pair trades in positive territory for the second consecutive day around 1.0850 in Monday’s early Asian session.
Read more »
EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since May 09, 2024 when EUR/USD traded near 1.08.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/USD-bearish contrarian trading bias.
Read more »