Euro gathers steam and surpasses 1.0800

An auspicious start of the week so far sees the Euro (EUR) managing to pick up some upside traction vs. the US Dollar (USD) and motivating EUR/USD to

The EUR challenges the 1.0800 region vs. the USD.US yields seem tilted to the downside for the time being.Fed’s tighter-for-longer narrative keeps running in the background.Investors see the Fed hiking rates by 25 bps in November.The selling pressure around EUR/USD appears to have somewhat eased at the beginning of the new trading week, allowing spot some breathing room around the 1.0800 region.

Furthermore, sustained losses are likely in EUR/USD once the 200-day SMA is breached in a convincing fashion.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 The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.Eurozone inflation data, measured by the Harmonized Index of Consumer Prices , is an important econometric for the Euro.

Economic data for the four largest economies in the euro area are especially significant, as they account for 75% of the Eurozone’s economy.Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.

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