Following a promising start to the new trading week, EUR/USD came under renewed downside pressure and slipped back to the 1.1030 region on Tuesday, reaching two-week lows on the back of the resurgence of the upside impetus in the US Dollar (USD).
EUR/USD retreated to new two-week lows near 1.1030. The Dollar resumed its uptrend despite lower yields across the curve. The US ISM Manufacturing PMI rose to 47.2 in August. Following a promising start to the new trading week, EUR/USD came under renewed downside pressure and slipped back to the 1.1030 region on Tuesday, reaching two-week lows on the back of the resurgence of the upside impetus in the US Dollar . In the meantime, spot appears to have found some initial support near the 1.
The central debate revolves around how slowing economic growth and a possible recession might impact inflation—the ECB's main concern—as it aims to bring inflation down to 2% by the end of 2025. Nonetheless, the release of lower-than-expected flash CPI data for August in Germany and the broader Eurozone may challenge the cautious approach by rate setters, potentially opening the door for the central bank to consider another rate cut at its meeting on September 12.
Recommended Fed ECB Currencies
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Price Forecast: Initial contention sits near 1.1050After three consecutive days of losses, EUR/USD finally managed to regain the smile and print a decent advance at the beginning of the week, revisiting the 1.1080 zone against the backdrop of a tepid bout of selling pressure in the US Dollar (USD).
Read more »
EUR/USD Price Forecast: Holds above 1.1150, the constructive outlook remains intactThe EUR/USD pair trades with mild gains around 1.1055, snapping the three-day losing streak during the early European session on Monday.
Read more »
EUR/USD Price Forecast: A deeper, sustained drop seems unlikelyEUR/USD added to Wednesday’s retracement and breached the key 1.1100 support to hit multi-day lows on Thursday.
Read more »
EUR/USD Price Forecast: Bounces-off key support near 1.1110 ahead of German/ US dataEUR/USD is back in the green zone early Thursday, reversing a part of Wednesday’s steep sell-off.
Read more »
EUR/USD Price Forecast: Next on the upside comes 1.1200EUR/USD faced renewed and quite marked downward pressure on Wednesday, coming all the way down to retest the 1.1100 neighbourhood on the back of the robust U-turn in the US Dollar (USD).
Read more »
EUR/USD Price Forecast: Extra gains likely above 1.0850EUR/USD traded in quite a narrow range on Tuesday, leaving behind Monday’s decline and refocusing instead on the upside once again, where recent YTD peaks around 1.1200 await.
Read more »