Euro attempts a rebound beyond 1.0700 amidst Dollar weakness
At the conclusion of the week, the Euro (EUR) shows signs of upward movement against the US Dollar (USD), causing EUR/USD to rise above 1.0700. Simultaneously, the Greenback experiences a partial retreat from its six-month high above 105.00 on Thursday as indicated by the USD Index (DXY). This retreat is attributed to a mild recovery in risk appetite across financial markets.
Regarding monetary policy, speculation surrounding a possible interest rate hike by the Federal Reserve (Fed) in November has lost momentum recently. Meanwhile, market participants are currently factoring in potential rate cuts sometime during Q2 2024.
Regarding monetary policy, speculation surrounding a possible interest rate hike by the Federal Reserve (Fed) in November has lost momentum recently. Meanwhile, market participants are currently factoring in potential rate cuts sometime during Q2 2024.
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