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Indonesia News Portal for Traders | Financial & Business Updates

15 October 2024 07:42  |

EUR/USD Drops to Fresh Ten-Week High, as Rate Cuts

EUR/USD hit a fresh ten-week low on Monday, kicking off the new trading week with fresh losses. The euro slumped a quarter of a percent against the US dollar, breaking through the 200-day Exponential Moving Average (EMA) as USD strength offset a generally weaker EUR

The latest European Central Bank (ECB) Lending Survey is due on Tuesday, and investors will be looking for clues on the overall health of the pan-European banking sector this week

The final European Consumer Price Index (HICP) inflation figure is due on Thursday morning, but it is unlikely to trigger much volatility as markets await the European Central Bank (ECB), which is widely expected to cut interest rates by 25 basis points, also on Thursday. Key US data isn’t due until US Retail Sales on Thursday, which are expected to rise to 0.3% MoM in September after 0.1% in August.

Source: FXStreet

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