The post EUR/USD backslides in broad-market Greenback bounce appeared on BitcoinEthereumNews.com.

EUR/USD failed to capture 1.1200 on Monday as markets pare back risk flows. Economic calendar remains tepid after blustery showing last week. EU inflation, US PCE inflation to dominate the late-week data docket. EUR/USD pared back recent gains on Monday, slipping back from 1.1200 as traders ease off the gas pedal in broad-market Dollar-negative flows that sent Fiber into its highest bids in 13-months last week. Market risk appetite remains on balance to get the new trading week fired up, but Greenback pressure caught a relief as investors gear up for the long wait to key inflation figures due late this week. Forex Today: A September rate cut now looks at US data releases Preliminary EU Harmonized Index of Consumer Prices (HICP) inflation is slated for release on Friday, with little else of note in the way until then. Pan-EU core HICP inflation is forecast to tick down to 2.8% from 2.9% for the year ended in August.  Most of the trading week will be a quiet affair on the economic calendar. Q2 US Gross Domestic Product (GDP) figures are slated for Thursday, but are broadly expected to hold steady at 2.8% on an annualized basis. Friday could be a kicker for markets that are increasingly focused on the timing and pace of rate cuts from the Fed, with July’s US core Personal Consumption Expenditure – Price Index (PCE) inflation print set to hold steady at 0.2% MoM. The YoY PCE inflation figure is actually expected to tick upwards to 2.7% from 2.6%, but investors are confident that inflation has made enough progress towards the Fed’s 2% target that it will count as “close enough” to still keep the way open to a first rate cut on September 18. What happened on Monday?  US Durable Goods Order in July rallied…

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Filed under: News - @ August 26, 2024 11:17 pm