EUR/USD Weekly Forecast: Could the Federal Reserve pave the way for a September cut?

The EUR/USD pair edged lower in the fourth week of July, trading marginally lower in the 1.0850 region ahead of the close.

Macroeconomic data imbalances may end up benefiting the US Dollar. European tepid growth may soon take its toll on the Euro. EUR/USD maintains the bullish bias in the daily chart despite absent weekly progress. The US Dollar started the week on a strong footing, but the momentum faded following the release of United States first-tier data that helped improve the market’s mood. Tepid European data At the same time, Euro buyers had little to cheer.

3% in the same period, below the market expectation of 2.6%. Finally on Friday, the US reported the June core PCE Price Index, which rose 0.2% MoM, above the 0.1% anticipated. The annual reading remained unchanged at 2.6%, also surpassing expectations. Nevertheless, the news fell short of affecting the odds of an interest rate cut in September. The Federal Reserve will take center stage next week as the central bank announces its decision on monetary policy.

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