EUR/USD holds steady in tight range – BBH
Source Fxstreet
EUR/USD is trading directionless within 1.1720–1.1780, but the ECB’s steady hand is keeping the pair supported. With Eurozone inflation hovering around the 2% target and core CPI stable, the policy backdrop continues to favor the euro’s underlying uptrend, BBH FX analysts report, BBH FX analysts report.
Eurozone inflation aligns with ECB target
"EUR/USD is directionless within a 1.1720-1.1780 range. The ECB is in a good place to keep rates on hold as Eurozone inflation remains close to the ECB’s 2% target. In September, both headline and core CPI matched consensus."
"Headline rose 0.2pts to 2.2% y/y, core printed at 2.3% y/y for a fifth consecutive month, and services CPI ticked up 0.1pts to 3.2%. Bottom line: ECB/Fed policy stance continues to underpin the uptrend in EUR/USD."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Markets expect Job Openings in August to decline slightly to 7.1 million compared to the previous month's reading of 7.181 million.
Meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) remain muted as the broader cryptocurrency market recovers.
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
The US Dollar (USD) stays on the back foot early Tuesday as investors grow increasingly concerned about a possible government shutdown, which could cause a delay in data releases later in the week.
The US Dollar Index (DXY) is remaining subdued for the third successive session and trading around 97.90 during the Asian hours on Tuesday.
Related Instrument
