The EUR/USD pair gains some positive traction during the Asian session on Thursday and for now, seems to have snapped a three-day losing streak to its lowest level since early July, around the 1.0760 area touched the previous day.
EUR/USD attracts some buyers on Thursday amid a modest USD pullback from a three-month high. Expectations for a less aggressive policy easing by the Fed should help limit losses for the Greenback. Bets for a jumbo ECB rate cut in December might undermine the Euro and cap the upside for the pair. Spot prices climb back closer to the 1.0800 mark in the last hour amid a modest US Dollar downtick, though the fundamental backdrop warrants some caution for bullish traders.
This, in turn, might hold back traders from placing aggressive bullish bets around the shared currency and cap the upside for the EUR/USD pair. Market participants now look to the release of the flash PMI prints from the Eurozone and the US, which might provide fresh insight into the health of the global economy and in turn, influence the broader risk sentiment. Apart from this, the US bond yields will drive the USD and provide some impetus.
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 trades cautiously as weak Eurozone PMI stokes ECB rate cut betsEUR/USD struggles to hold the key support of 1.1100 in Tuesday’s European session after a sharp decline move on Monday.
Read more »
EUR/USD: Room for EUR to test the 1.1080There is room for the Euro (EUR) to test the 1.1080 level; the next support at 1.1050 is unlikely to come under threat.
Read more »
EUR/USD Price Forecast: Needs to find acceptance above 1.1165-70 for bulls to regain controlThe EUR/USD pair edges higher on Tuesday and for now, seems to have stalled the previous day's downfall that followed the disappointing data, which showed that the Eurozone business activity contracted more than expected in September.
Read more »
EUR/USD: Consolidative phase continues ahead of fresh cluesThe EUR/USD pair keeps trading uneventfully a handful of pips above the 1.1100 mark on Tuesday, as bad news from Europe undermined demand for the Euro.
Read more »
Citi doubles down on bearish EUR/USD stanceCiti doubles down on bearish EUR/USD stance
Read more »
EUR/USD recovers ground on Greenback weaknessEUR/USD cut away bearish sentiment and rallied back into recent highs on Tuesday, taking another unsuccessful run at 1.1200.
Read more »