EUR/USD ticks higher to near 1.0515 in Monday’s European session ahead of the HCOB Eurozone preliminary Purchasing Managers’ Index (PMI) data for December on both sides of the Atlantic.
EUR/USD gains slightly to near 1.0515 ahead of the preliminary PMI data of both the Eurozone and the US for December. The ECB is expected to cut interest rates further by 100 bps next year. Investors will keenly focus on the Fed ’s dot plot for fresh interest rate projections in the US. EUR/USD ticks higher to near 1.0515 in Monday’s European session ahead of the HCOB Eurozone preliminary Purchasing Managers’ Index data for December on both sides of the Atlantic.
Daily digest market movers: EUR/USD will be influenced by Fed’s policy this week The mild upside in the EUR/USD pair is driven by a slight decline in the US Dollar amid uncertainty ahead of the Federal Reserve’s interest rate decision, which will be announced on Wednesday. The US Dollar Index , which tracks the Greenback’s value against six major currencies, edges lower but trades close to the key resistance of 107.00. The Fed is widely anticipated to cut its key borrowing rates by 25 bps to 4.
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