The euro has maintained its bullish stance against the US dollar, holding above key moving averages despite a brief pullback from its weekly high. Market participants have been closely monitoring the currency pair after the Federal Reserve released its meeting minutes, which reinforced the central bank’s commitment to maintaining a high rate policy to combat inflation expectations. The pair tested the critical level of 1.0900 after the release, but the market reaction remained subdued.
Investors now await the release of economic data on Wednesday for further guidance. Upcoming figures include:
- US jobless claims expected to show a slight decrease to 225,000.
- EU consumer confidence forecast to improve slightly from -17.9.
- The Michigan US Consumer Sentiment Index is expected to see lower growth from its last reading of 60.4.
- US Durable Goods Orders are forecast to decline -3.1% after an earlier solid gain of 4.6%, and inflation expectations are expected to remain at 3.2%.
As market players evaluate these indicators and forecasts, the performance of the euro will continue to be influenced by the release of economic data and the policy decisions of central banks in both Europe and the United States.
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