EUR/USD is holding above the 1.0800 mark as the US Dollar weakens, currently trading at 1.0816. This positive movement is attributed to remarks from FOMC Chair Powell, who indicated that despite recent high CPI inflation data, the overall trend for inflation is downward. Additionally, ECB officials have hinted at the possibility of a rate cut as soon as April, contributing to the Euro’s strength against the Dollar.

Investors are monitoring upcoming US data, including the Chicago Fed National Activity Index, US New Home Sales, and a speech by Fed’s Bostic scheduled for Monday. Looking ahead, critical events for the week include the release of German February Retail Sales and US Q4 GDP growth figures.

During last week’s FOMC meeting, interest rates remained unchanged, but Powell’s comments suggested a willingness to cut rates if labor market conditions deteriorate unexpectedly. This dovish stance and expectations of multiple rate cuts this year have pressured the US Dollar.

European Central Bank members have also hinted at potential rate cuts shortly, with speculation mounting that the ECB could follow the Swiss National Bank in cutting rates. This anticipation has weighed on the Euro against the Dollar.

Looking ahead to Thursday, markets will watch for German Retail Sales data and US Q4 GDP figures, with the US economy expected to show a 3.4% expansion.


Today last price1.0817
Today Daily Change0.0009
Today Daily Change %0.08
Today daily open1.0808
Daily SMA201.0879
Daily SMA501.0843
Daily SMA1001.087
Daily SMA2001.0839
Previous Daily High1.0868
Previous Daily Low1.0802
Previous Weekly High1.0942
Previous Weekly Low1.0802
Previous Monthly High1.0898
Previous Monthly Low1.0695
Daily Fibonacci 38.2%1.0827
Daily Fibonacci 61.8%1.0843
Daily Pivot Point S11.0784
Daily Pivot Point S21.076
Daily Pivot Point S31.0718
Daily Pivot Point R11.085
Daily Pivot Point R21.0892
Daily Pivot Point R31.0916

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