The EUR/USD pair halted its latest run and is closing the week unchanged, just below the 1.0900 mark.
The European Central Bank failed to motivate investors with an uneventful monetary policy announcement. The United States will release updates on the Gross Domestic Product and inflation next week. EUR/USD in a corrective slide, 1.0800 must hold for bulls to retain control. However, it reached a fresh multi-month high of 1.0947 mid-week, only turning south after the European Central Bank uneventful monetary policy announcement.
However, growth data could also affect the Fed’s decision. If the economy progresses at a faster-than-anticipated rate, it would suggest the current interest rate can persist for longer. Consider a scenario in which upbeat GDP and PCE figures could make speculative interest change its mind regarding September. The US Dollar can run on the news, turning the current corrective advance into a bullish rally.
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