The EUR/USD pair resumes its downside path after retracing from the 1.0600 area during the early Asian session on Thursday. Markets turn cautious on t
EUR/USD faces some selling pressure amid the cautious mood, higher US Treasury yields. The US New Home Sales increased to 759,000 MoM in September, better than expected. European Central Bank is likely to keep interest rates unchanged on Thursday. Investors will closely watch the ECB rate decision, ECB President Lagarde’s speech, and US Q3 growth numbers.
4 in the previous reading, and the Services PMI declined from 48.7 versus 47.8 prior. European Central Bank policymaker Gabriel Makhlouf said on Tuesday that the central bank will monitor the unfolding crisis in the Middle East while mentioning that it was too early to assess the impact on economies. Investors will keep an eye on the ECB monetary policy meeting later on Thursday, which is expected to keep interest rates unchanged.
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