Euro appears mildly bid near the 1.0600 barrier

The Euro (EUR) is showing a slight strength against the US Dollar (USD), causing EUR/USD to keep the trade around the 1.0600 region at the beginning o

The Euro clings to daily gains vs. the US Dollar. Stocks in Europe open in a mixed tone on Monday. EUR/USD’s upside remains limited around the 1.0600 zone so far. The USD Index extends its range bound theme in the low 106.00s. EMU’s flash Consumer Confidence is due in the domestic docket. The Chicago Fed National Activity Index comes next in the US calendar. f the week. Meanwhile, the Greenback is managing to regain some stability and modestly advance towards the low-106.

It is crucial to recall that the risk of sustained negative pressure persists as long as the EUR/USD remains below the 200-day SMA. Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day.

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