The Federal Reserve still has inflation on its things-to-worry-about list and doesn’t plan to reverse its rate-hiking campaign just yet.
The euro is bracing for Friday’s ambitious 2.9% inflation forecast. Technicals indicate a potential upside after both the 100-day and 200-day MAs are now under.
The European currency erased a Wednesday slip to $1.0650 but dollar bulls are not yet ready to give up the fight.
It’s Jobs Day and the latest nonfarm payrolls are expected to show a moderate pace of hiring for the previous month.
The euro has been struggling to break out of its $1.05 consolidation. Euro CPI, rate set, jobs ahead may change the narrative.
The EUR/USD rebounded from its weekly bottom of $1.0520 after signs of an overheating economy spooked traders.
The Fed boss pledged to keep rates steady for the foreseeable future. The euro found support at $1.0540.
September’s inflation at 3.7% pumped the US dollar as the pair erased four days of steady gains.
The European currency’s troubles continue as the dollar is fueled by more economic data, high interest rates, and safety-seeking.
Conviction grows that the US dollar will stay well-bid as interest rates aren’t coming down any time soon. Euro bears got bruised.
Can the euro pull itself together after what the ECB did? Or is another hit at parity inevitable? Find out about the latest drama on the EUR/USD.
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