EUR/USD remains on the defensive below 1.1000, seems vulnerable amid modest USD strength – by hareshmenghani EURUSD Fed ECB Inflation Currencies
print on Friday. Spot prices slip back below the 1.1000 psychological mark during the Asian session and for now, seem to have stalled a two-day-old recovery from the 100-day Simple Moving Average , around the 1.0910 area, or a nearly one-month low touched last Thursday. attracts some dip-buying in the wake of growing acceptance that the Federal Reserve will stick to its hawkish stance and turns out to be a key factor exerting some pressure on the EUR/USD pair.
will halt its streak of nine consecutive interest rate hikes in September amid signs that the underlying inflation in the Euro Zone has peaked. In fact, Fitch Ratings said on Friday that falling Euro Zone inflation puts ECB rates peak within sight. Moreover, the ECB, in its economic bulletin published on Friday, noted that the ECB noted that the underlying inflation in the region likely peaked during the first half of 2023.
The crucial US CPI report is due on Thursday, which will play a key role in influencing market expectations about the Fed's future rate-hike path and driving the USD demand. In the meantime, traders on Monday will take cues from
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