EUR/USD rotated around 1.0900 on Tuesday as markets grappled with September rate cut hopes getting pinned even further into the high end after US Retail Sales figures eased in June.
EUR/USD hung up on tense bidding near 1.0900. Bullish momentum pulls up short as Fiber fails to crack into new technical highs. ECB rate call in the barrel for Thursday after US data sparks renewed rate cut hopes. Markets have fully priced in the start of a Fed eral Reserve rate-cutting cycle in September, with up to three quarter-point cuts expected for the year. On the European side, the European Central Bank’s latest rate call looms ahead on Thursday.
EUR/USD hourly chart EUR/USD daily chart Euro FAQs What is the Euro? 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 accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.
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