After closing the second consecutive day in positive territory on Tuesday, EUR/USD lost its momentum and went into a consolidation phase above 1.0550.
EUR/USD went into a consolidation phase above 1.0550 on Wednesday. Markets remain cautious as geopolitical tensions stay elevated. Fedspeak and US housing data will be watched closely in the second half of the day. The cautious market mood makes it difficult for the pair to regain its traction early Wednesday as investors await US data releases and comments from central bank officials.
For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR /JPY . Early Wednesday, US stock index futures trade modestly lower, while the Euro Stoxx 50 Index stays flat. In the second half of the day, Housing Starts and Building Permits data for September will be featured in the US economic docket.
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