As rate cut hopes persist, EUR/USD recovers from a near-term swing low near 1.0670. Investors shrug off cautious Fed tones to bet on September rate cut. EU economic data thin this week with mid-tier events, Friday’s global PMIs loom. EUR/USD recovered to 1.
Although recent inflation data has shown a faster-than-expected decline, the Fed has emphasized a reluctance to implement premature rate cuts, emphasizing the need for further data before making any decisions. Later in the week, EU and US PMI)figures scheduled for Friday are expected to split results, with market forecasts expecting a slight uptick in pan-EU activity and a slight decrease expected in US PMI figures.
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