EURUSD : Stable after the day of drop reduction

Hey folks, so here’s the scoop on EUR/USD: This Friday in the early Asian trading session, the pair was trending down, hovering around 1.0728. There's a bit of a modest recovery happening with the U.S. dollar (USD), especially with all the chatter about the Fed potentially cutting rates in September, and that's really putting some pressure on this major currency pair.

Just yesterday, the European Central Bank (ECB) decided to keep interest rates steady at record highs, just as everyone expected, but they also hinted at a possible rate cut come June. Now, investors are all eyes on Germany's March inflation data and the preliminary U.S. Michigan Consumer Sentiment Index, both set to drop this Friday. Let’s see how these play out!

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