Check out today's EURUSD Forex Signal-
It dropped as the US dollar index jumped by 30 basis points to $102.70. The pair dropped to a low of 1.0810, the lowest level since April 3.The market has been facing three key risks recently. One of these risks is the debt limit issue, which threatens to see the American economy go through a default. In a statement, House Speaker Kevin McCarthy said that he was optimistic that the country will not default.The other risk has been in the banking sector.
The EUR/USD also reacted to the latest European inflation data. Numbers by Eurostat showed that the headline consumer price index jumped to 7.0% while core inflation slipped slightly to 5.6%. The EUR/USD pair will react to a statement by Christine Lagarde, the head of the ECB. In the US, the key numbers to watch will be the Philadelphia Fed manufacturing index and initial jobless claims numbers.The EUR to USD exchange rate continued falling as the US dollar index bounced back. It moved below the 38.2% Fibonacci Retracement point.
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