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EUR/USD escapes Wednesday’s holiday volatility trap, set for wait to meaningful data

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EURUSD News

PMI,ECB

EUR/USD cycled on Wednesday with US markets out for a midweek holiday, and the Fiber heads into the back half of the trading week with mid-tier data on the offering, leaving investors to look ahead to Friday’s Purchasing Managers Index (PMI) activity figures for meaningful data releases to drive sentiment in either direction.

EUR/USD drifted mostly sideways on sedate Wednesday, heads into quiet Thursday. Fiber traders will be on the lookout for Thursday’s US unemployment applications. Friday looms ahead with PMI activity figures on both sides of the Pacific.

What is the ECB and how does it impact the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. 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.

 

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