The Euro is steady against the US Dollar, virtually unchanged after solid data from the United States (US) boosted the Greenback, which recovered from Tuesday's losses.
EUR/USD maintains a position slightly above 1.0700, with minimal change despite a strong recovery in the US Dollar. US Treasury yields increase after significant durable goods data and a major five-year note sale, impacting market sentiment. Upcoming US GDP and Core PCE data, along with German consumer confidence figures, are next on the economic calendar.
At the same time, Initial Jobless Claims are expected to increase from 212K to 214K. Besides that, EUR/USD traders would be eyeing the release of the Core Personal Consumption Expenditures Price Index, the Federal Reserve’s preferred inflation gauge, which is estimated to remain steady at 0.3%. The annual Core PCE rate is expected to ease to 2.6%, down from February's rate of 2.8%, indicating a potential softening of inflation pressure.
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