EUR/USD Weekly Forecast: European growth under scrutiny after ECB’s decision

The EUR/USD pair bottomed at 1.0810 on Thursday, its lowest since early August, closing for the third straight week in the red a handful of pips above the level.

The European Central Bank trimmed interest rates as expected and delivered a dovish message. Upbeat United States macroeconomic figures and a dismal mood supported the US Dollar. EUR/USD bearish case becoming firmer in the long term, though a corrective advance is not out of the table. On the one hand, the US Dollar benefited from a risk-averse environment and upbeat United States macroeconomic data.

7% in the Eurozone in September, below the central bank’s 2% goal. On the contrary, policymakers still see risks on both sides of the inflation forecast and expect it to rise again before falling back toward 2% in 2025. “Domestic inflation remains high, as wages are still rising at an elevated pace,” the statement noted. What’s next in the docket The upcoming week will bring some relevant figures.

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