The EUR/USD pair remained under pressure throughout the first part of Thursday, bottoming at 1.0848 ahead of the European Central Bank (ECB) monetary policy decision and United States (US) macroeconomic data.
EUR/USD Current price: 1.0845 The European Central Bank trimmed interest rates by 25 bps as expected. Upbeat United States data pushed the US Dollar into fresh weekly highs. EUR/USD is oversold in the near term, but there are no signs of downward exhaustion. The EUR/USD pair remained under pressure throughout the first part of Thursday, bottoming at 1.0848 ahead of the European Central Bank monetary policy decision and United States macroeconomic data.
4% in the month, while the Philadelphia Fed Manufacturing Survey jumped to 10.3 in October from 1.7 in September. Finally, Initial Jobless Claims for the week ended October 11 rose by 241K, below the 260K anticipated. As ECB President Christine Lagarde starts the press conference, the EUR/USD pair keeps approaching the 1.0800 mark. EUR/USD short-term technical outlook From a technical perspective, the EUR/USD pair is poised to extend its slump.
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