Euro edges higher against US Dollar after soft US PPI data
Euro: Choppy range trading outlook against US Dollar – Rabobank
Euro: Range tests with upside bias against US Dollar – ING
DXY, EUR/USD and GBP/USD test key levels as traders turn to U.S. PPI after softer CPI and assess the latest UK GDP data.
Euro: Range phase after failed upside break against US Dollar – UOB
TL;DR: EUR/USD has nearly everything bulls could ask for — a weaker Dollar, fading Fed hike bets, and rising ECB hike odds — yet the pair hasn't broken out, because Euro itself isn't confirming the move broadly across its other crosses.
EUR/USD Price Forecast: Flatlines below 1.1550, while staying bearish under 100-day SMA
Morning briefing: EUR/USD could decline towards 1.1500 and lower
Euro advances as US Dollar weakens amid cooling Inflation
US inflation came in broadly in line with expectations, sending expectations of a September hike down to 40% from 55% just over a week ago. Though it seems forex traders may have been positioned for a weaker set of figures, given the US dollar index traded higher on Wednesday.
EUR/USD price action turned volatile on Wednesday as the pair struggled to hold early gains following the latest US Consumer Price Index (CPI) report, a key driver for Federal Reserve interest rate expectations and US dollar direction. The euro briefly surged on signs of cooling US inflation but quickly lost momentum as traders reassessed the broader policy outlook.
EUR/USD Price Forecast: Fading bullish momentum puts focus on 1.1500 support