The EUR/USD pair trades with a mild negative bias near 1.0550 on Monday during the Asian trading hours.
EUR/USD loses traction to around 1.0550 in Monday’s Asian session. Markets see a potential December rate cut by the Fed. The ECB is anticipated to cutanother 25 bps at its December meeting on Thursday. Investors will closely monitor the US Consumer Price Index inflation report for November, which is due on Wednesday. On Thursday, the European Central Bank interest rate decision will take center stage. Investors will be looking for clues about what comes next.
Core inflation, which excludes volatile food and energy prices, is projected to be steady at 3.3% YoY in November. The European Central Bank is expected to deliver its fourth interest rate cut of the year at its final policy meeting of 2024 on Thursday. Analysts expect theECB to stick to its data-dependent guidance by reiterating that it “is not pre-committing to a particular rate path.”However, the ECBPresident Lagarde’s press conference could offer some hints about the interest rate outlook.
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