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EUR/USD softly higher, but technical pressures persist heading into lopsided Wednesday

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EURUSD News

ECB,Fed

EUR/USD is drifting slowly higher in tepid market conditions heading into a quiet Wednesday that sees low-impact EU data and darkened US markets for a midweek holiday shutdown.

EUR/USD continues to recover from a near-term low around 1.0667. Euro sees mid-tier data docket until Friday’s PMI prints. US markets heading into a midweek holiday, market flows to be throttled. Broad-market sentiment continues to grind its way upwards as investors shrug off overly cautious talking points from a slew of Federal Reserve officials.

The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year.

 

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