EUR/USD fades the initial strength and returns below 0.9900 – by pabspiovano EURUSD Currencies Majors
The dollar reverses the earlier pessimism and regains traction.now returns to the area below the 0.9900 mark after failing to advance further north of the 0.9930 region earlier in the session.EUR/USD clings to the daily gains and manages to regain some composure following Wednesday’s sharp pullback and amidst the persistent buying pressure around the greenback.
In the euro docket, the German Construction PMI eased to 41.8 in September, while Retail Sales in the euro area come next seconded by the publication of the In the meantime, price action around the European currency is expected to closely follow dollar dynamics, geopolitical concerns and the Fed-ECB divergence. The latter has been exacerbated further following the latest rate hike by the Fed and the persevering hawkish message from Powell and the rest of his rate-setters peers.
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