Forex Analysis by Investing.com (Damian Nowiszewski) covering: EUR/USD. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Today's PPI data could impact rate cut expectations; continued disinflation could increase the likelihood.EUR/USDof a 25 basis point reduction in September now at 86.8%, investors are positioning themselves for a less hawkish monetary policy stance. This shift weakens the dollar's appeal as a safe haven asset.inflation data could significantly influence the likelihood of an interest rate cut. If the figures come in below forecasts, the probability of a cut will increase further.
Despite the anticipation, it seems likely that the ECB will hold off on further rate cuts until there's clearer evidence that inflation is moving towards its target. Should the Governing Council receive such evidence, we can expect two more 25 basis point interest rate cuts this year.Following the release of recent economic data, the EUR/USD pair saw an upward push. However, this momentum has stalled around the 1.09 level, presenting a significant challenge for buyers moving forward.
In the event of a pullback, investors should focus on the confluence of the 1.0850 support level and the upward trend line. This trend line serves as a crucial defense zone. This article is written for informational purposes only; it does not constitute a solicitation, offer, advice, counsel or recommendation to invest as such it is not intended to incentivize the purchase of assets in any way. I would like to remind you that any type of asset, is evaluated from multiple perspectives and is highly risky and therefore, any investment decision and the associated risk remains with the investor.
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