The EUR/USD pair trades with mild gains around 1.0920 during the early European session on Monday.
EUR/USD holds positive ground near 1.0920 in Monday’s early European session. The pair keeps the positive vibe above the 100-day EMA, with a bullish RSI momentum indicator. The immediate resistance level emerges at 1.0973; the Initial support level is located at 1.0881. The uptick of the major pair is backed by the consolidation of the US Dollar . Investors await the German August ZEW survey on Tuesday for fresh impetus. Expectations are expected to arrive at 31.8 versus 41.
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. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.
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