EUR/USD extends the decline to the 1.0670 region – by pabspiovano EURUSD Currencies Majors
Industrial Production in Germany expanded 0.3% MoM in April.remains on the defensive and keeps navigating in the sub-1.0700 zone on Wednesday.EUR/USD corrects further south on Wednesday amidst the broad-based sour mood in the risk-linked galaxy, particularly after Chinese trade balance figures reignited concerns over the recovery in the country’s economy.
Back at the ECB, Board member I. Schnabel argued that the impact of the current ECB tightening cycle is expected to peak at some point in 2024, reiterating that underlying inflation remains elevated and that the central bank has still further ground to cover.In the US, MBA Mortgage Applications are due followed by trade balance figures and Consumer Credit Change.EUR/USD flirts with weekly lows near 1.0670 amidst the gradual recovery in the greenback so far this week.
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