Euro attempts a rebound beyond 1.0700 amidst Dollar weakness

At the conclusion of the week, the Euro (EUR) shows signs of upward movement against the US Dollar (USD), causing EUR/USD to rise above 1.0700. Simultaneously, the Greenback experiences a partial retreat from its six-month high above 105.00 on Thursday as indicated by the USD Index (DXY). This retreat is attributed to a mild recovery in risk appetite across financial markets.

Regarding monetary policy, speculation surrounding a possible interest rate hike by the Federal Reserve (Fed) in November has lost momentum recently. Meanwhile, market participants are currently factoring in potential rate cuts sometime during Q2 2024.