The EUR/USD pair softened on Tuesday, ending a recovery attempt above 1.0500. Market focus is now shifting towards US Federal Reserve Chair Powell's appearance and the upcoming NFP jobs data. EU PMIs and ECB President Lagarde's testimony are unlikely to have a significant impact.
EUR/USD softened on Tuesday, ending a bullish recovery attempt. Final EU PMIs, ECB Lagarde appearance unlikely to move the Fiber needle. US data focus shifts to Fed Chair Powell appearance, Friday NFP jobs print. EUR/USD turned lower once again on Tuesday, grappling with the 1.0500 handle as Fiber flubs a bullish run at 1.0600.
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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