EUR/USD Holds Steady Ahead of Key Speeches

George Solotarov
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EUR/USD Holds Steady Ahead of Key Speeches

The EUR/USD pair is trading slightly higher, awaiting speeches by Federal Reserve Chairman Jerome Powell and European Central Bank (ECB) President Christine Lagarde. The US Dollar (USD) is under pressure due to expectations for further Fed rate cuts.

Fed Monetary Policy

The Federal Reserve (Fed) is expected to provide guidance on interest rates and the economic outlook. The CME Fedwatch tool shows a high probability of a 50 basis points (bps) rate cut in November.

ECB Monetary Policy

The ECB is expected to discuss its monetary policy stance and provide clues about potential interest rate cuts. Recent data suggests a slowdown in the Eurozone economy, which could increase pressure for further easing.

Economic Data

Investors will focus on the US Personal Consumption Expenditure (PCE) Price Index for August, which is expected to show a slight acceleration in inflation.

EUR/USD Technical Analysis

The EUR/USD pair has rebounded from 1.1120. The 20-day Exponential Moving Average (EMA) is sloping upward, suggesting a bullish trend. The 14-day Relative Strength Index (RSI) is consolidating below 60.00, indicating weakening momentum.

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