The EUR/USD pair trades on a flat note near 1.0995 during the early European session on Wednesday.
EUR/USD trades flat near 1.0990in Wednesday’s early European session. The US PPI rose 2.2% year-on-year in July, softer than expected. ECB is likely to deliver two more 25 basis point rate cuts this year, according to Reuters surveys. The EUR/USD pair trades on a flat note near 1.0990during the early European session on Wednesday. Traders prefer to wait on the sidelines ahead of the release of top-tier economic data from the Eurozone and the US.
EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD . What is the ECB and how does it impact the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth.
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