The EUR/USD pair trades with a negative bias for the fourth straight day on Wednesday and is placed just above its lowest level since November 2023 touched the previous day.
EUR/USD drifts lower for the fourth straight day and is pressured by a combination of factors. The political uncertainty in the Eurozone’s largest economy continues to undermine the Euro. The USD stands firm near a multi-month top amid optimism over Trump’s proposed policies. Traders now look to the US CPI for Fed rate-cut cues and before placing fresh directional bets.
Heading into the key data risk, a softer risk tone is seen as another factor underpinning the Greenback's relative safe-haven status. Against the backdrop of the underwhelming response to China's fiscal stimulus, worries over Trump's promised trade tariffs and their impact on the global economy temper investors' appetite for riskier assets.
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