EUR/USD Price Forecast: The break of 1.0600 questionable as the price drifts away

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EUR/USD Price Forecast: The break of 1.0600 questionable as the price drifts away
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EUR/USD retreated from weekly highs of 1.0600 on Thursday due to thin liquidity conditions as US markets remain closed for Thanksgiving.

EUR/USD dips towards 1.0550, distancing from 1.0600. ECB likely to cut rates by 25 bps in December; markets expect 100 bps in 2025 amid economic struggles. Fed stance remains cautious, yet markets await a rate cut in December. The pair edges down 0.10% as traders digested data from the Eurozone .

EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD . What is the ECB and how does it impact the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. 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.

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