The EUR/USD pair trades in the 1.0540 region ahead of Wall Street’s opening, marginally higher on the day. The pair bottomed at 1.0495 on Friday, as
EUR/USD Current Price: 1.0544 Escalating tensions in the Middle East maintain investors in cautious mode. Stocks trade with modest optimism as market participants await earnings reports. EUR/USD is at risk of resuming its decline despite the modest intraday recovery. Middle-East tensions and higher-than-expected United States inflation figures spurred demand for the safe-haven US Dollar.
As for the US, the country has just published the NY Empire State Manufacturing Index, down to -4.6 in the month from 1.9 in September. The macroeconomic calendar will include a Federal Reserve speaker in the American afternoon, with attention also centring on the last earning season of the year. EUR/USD short-term technical outlook The daily chart for EUR/USD shows the advance remains corrective.
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