The EUR/USD pair attempted to extend its recovery this past week, peaking at 1.0693 but gave up ground and closed the week with modest losses at aroun
The European Central Bank put a halt to rate hikes, expressed concerns about growth. The US calendar will bring the Federal Reserve’s monetary policy decision and the Nonfarm Payrolls report. EUR/USD still unable to confirm an interim bottom, bulls need to reconquer 1.0700. d 1.0570. The US Dollar started on the back foot, as the no escalation of the Israel-Hamas conflict brought some relief to financial markets.
4% YoY, while the core PCE index, the Fed’s favorite inflation measure, rose by 3.7%, easing from the previous 3.8% rate. On a monthly basis, however, the PCE Price Index and the Core PCE Price Index increased by 0.4% and 0.3%, respectively. The figures initially backed demand for the USD but also pushed Wall Street off its early lows, partially offsetting USD strength.
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