EUR/USD breaks its three-day losing streak, trading around 1.1050 during Wednesday’s Asian session.
EUR/USD gains ground ahead of the US inflation data release scheduled on Wednesday. The US Dollar depreciates as Treasury bonds extend decline amid rising odds of a Fed rate cut in September. Traders anticipate that the ECB will implement a 25 basis points rate cut at Thursday's meeting. The upside of the EUR/USD pair is attributed to the subdued US Dollar ahead of the US Consumer Price Index data scheduled to be released later in the North American hours.
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. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa.
Majors Macroeconomics Eurozone ECB
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 Forecast: EUR/USD gaining bearish traction near 1.1000The EUR/USD pair is pressured, trading near its daily low at 1.1027.
Read more »
EUR/USD Forecast: EUR/USD poised to extend decline towards 1.1000The EUR/USD pair eased towards 1.1035 during European trading hours, as the Euro got hit by poor local data fueling concerns about the Eurozone’s economic performance.
Read more »
EUR/USD holds below 1.1000 ahead of Eurozone GDP, US CPI dataThe EUR/USD pair trades on a flat note near 1.0995 during the early European session on Wednesday.
Read more »
Japan’s National CPI climbs 2.8% YoY in July, Core CPI rises as expectedJapan’s National Consumer Price Index (CPI) climbed 2.8% YoY in July, compared to the previous reading of 2.8%, according to the latest data released by the Japan Statistics Bureau on Friday, Further details unveil that the National CPI ex Fresh food arrived at 2.7% YoY in July versus 2.6% prior.
Read more »
EUR/USD and GBP/USD - Latest Sentiment Analysis and PositioningAnalyse current trader sentiment and discover who is going long and short, the percentage change over time, and whether market signals are bullish or bearish.
Read more »
EUR/USD: Bears may try to break below 1.1000The Euro (EUR) is likely to trade in a sideways range of 1.0985/1.1045.
Read more »