EUR/USD continues its steady decline into midweek after the release of higher-than-expected inflation data from the United States (US) reduced the chances of an early interest-rate cut from the Federal Reserve (Fed).
EUR/USD takes another step lower after Tuesday’s US inflation report. The short-term uptrend is now in doubt but the move down lacks momentum. Analysts at TD Securities are still penciling in June for a Fed rate cut. EUR/USD continues its steady decline into midweek after the release of higher-than-expected inflation data from the United States reduced the chances of an early interest-rate cut from the Federal Reserve . The pair is trading in the 1.
By “decisive” it is meant a break characterized by a long green candle piercing clearly above the level and closing near its high, or three green bars in a row, breaching the level. Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.
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