In the European session on Monday, EUR/USD is trading above 1.0800. The pair is experiencing gains due to the overall weak performance of the US Dollar. Investors are carefully considering the divergence in policies between the Federal Reserve and European Central Bank (ECB) as they anticipate EU Sentix data and a speech by ECB President Lagarde. These events come amidst a holiday in the United States.
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EUR/USD found support and stabilized near 1.0850 early Friday following Thursday's sharp decline. In case the pair reclaims 1.0900 later in the day, it could continue to stretch higher ahead of the weekend.
Investors started to refrain from pricing in another rate hike in European Central Bank (ECB) key rates in September and caused the Euro to lose interest on Thursday. Later in the day, the data from the US showed that the Personal Consumption Expenditures (PCE) Price Index came in largely in line with market estimates, while the weekly Initial Jobless Claims declined 2238,000 from 232,000.
Investors started to refrain from pricing in another rate hike in European Central Bank (ECB) key rates in September and caused the Euro to lose interest on Thursday. Later in the day, the data from the US showed that the Personal Consumption Expenditures (PCE) Price Index came in largely in line with market estimates, while the weekly Initial Jobless Claims declined 2238,000 from 232,000.
