The EUR/USD tested levels above 1.0630 but pulled back. The pair posted modest gains as it continues to rebound from monthly lows. The pair awaits mor
The US Dollar holds onto recent losses after US PPI and FOMC minutes. ECB minutes, US CPI, and Jobless Claims are due on Thursday. The EUR/USD pair holds steady, entering a consolidation phase in the short-term while testing a key resistance level. e US inflation data while trading at a crucial area, with the US Dollar still weak as US yields continue to pull back and market sentiment remains positive. The US Producer Price Index rose unexpectedly in September, with the annual rate at 2.
In the US, the Consumer Price Index for September will be a crucial report. The annual rate is expected to slow from 3.7% to 3.6%. If there is a significant upside surprise, the market will consider the possibility of more tightening for longer more seriously. EUR/USD short-term technical outlook The EUR/USD is consolidating above the 20-day Simple Moving Average , but it is facing resistance at the crucial 1.0630 resistance area.
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