The Euro paired some of its Friday losses against the US Dollar, though it remains shy of reclaiming the 200-day moving average (DMA) at 1.0839.
EUR/USD approaches the critical 200-day moving average, reflecting a cautious optimism in currency markets. Mixed Fed views and weaker US housing data contrast with ECB optimism on inflation and potential rate cuts. Upcoming US Durable Goods Orders and Consumer Confidence figures, to update economic outlook. The Euro paired some of its Friday losses against the US Dollar, though it remains shy of reclaiming the 200-day moving average at 1.0839.
Across the pond, the Eurozone’s Consumer Confidence in Spain was almost unchanged, while European Central Bank officials led by Mario Centeno said inflation has peaked. Fabio Panetta added that the EU’s inflation is quickly falling toward its 2% target, giving room to cut rates. In addition, the EU’s docket will feature Consumer Confidence in Germany and the GDP release in Spain.
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