During Tuesday's North American session, the Euro appreciated against the US Dollar, up by more than 0.40%, and exchanged hands above a key resistance level.
EUR/USD gains 0.40%, breaching resistance amid disappointing US manufacturing and composite indices. ECB's Joachim Nagel emphasizes inflation targets before any potential rate cuts despite slowing inflation. Upcoming economic indicators include US Durable Goods, Q1 GDP, and Eurozone business confidence reports. During Tuesday's North American session, the Euro appreciated against the US Dollar, up by more than 0.40%, and exchanged hands above a key resistance level.
Last week, the Fed parade witnessed policymakers pushing against three rate cuts, with most officials expecting just two or one. Across the pond, Eurozone HCOB PMIs were solid, with the composite index rising from March’s 50.3 to 51.4 this month, while the services edged up from 51.5 to 52.9. the outlier was the Manufacturing PMI, slipping from 46.1 to 45.
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