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Euro Forecast: EUR/USD Digests Data, US Core PCE on Tap
After a quiet start to the week, the economic calendar has taken center stage over the last 24 hours. In today’s European session, the IFO Business survey declined to 87.0 from 88.6, marking its third consecutive decline and the weakest reading since February. In the wake of the disappointing PMI figures yesterday, traders are now pricing in about a 95% chance that the European Central Bank cuts interest rates at its meeting in September. Across the Atlantic, the US economy failed to take advantage of the weakness in the euro area. Though the Q2 Advance GDP report was stronger than expected at 2.8% vs. 2.0% ... (full story)
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- Posted: Jul 25, 2024 2:28pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 3,520
