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The Euro extends losses below session lows at 1.1780 as German business sentiment deteriorates. A sour market sentiment is underpinning demand for the safe-haven USD on Wednesday. On Tuesday, Fed Chair Jerome Powell warned that further interest rate cuts are not guaranteed EUR/USD is drifting lower from 1.1820 highs, trading at fresh session lows sub-1.1770 at the time of writing. A sour market sentiment and the release of weaker-than-expected business climate figures in Germany are weighing on the common currency, while the safe haven US Dollar maintains a firmer tone than in previous days. The German IFO institute’s Business Climate index has shown that the economic sentiment among German firms deteriorated against expectations in September. Companies consider the current economic situation slightly worse than in previous months and are less optimistic about their near-term expectations. On Tuesday, the US flash Purchasing Managers Index (PMI) revealed that business activity slowed down for the second consecutive month in September, in line with expectations. The S&P Global’s report suggested that tariffs are pushing costs higher, while a weak demand and fierce competition limit firms’ ability to raise prices, which rose at their slowest pace since April. Somewhat later, the Federal Reserve (Fed) Chairman, Jerome Powell, reiterated the bank’s challenges to set the correct monetary policy to combat higher inflation risks without damaging the labor market further. Powell maintained his cautious stance on further monetary easing, but he failed to alter the market’s view that the central bank will cut interest rates in each of the two remaining monetary policy meetings this year. The economic calendar is lighter on Wednesday. The US August’s New Home Sales and a speech from San Francisco Fed President, Mary Daly, will gather the market’s attention during the American session. Euro Price Today The table below shows the percentage…

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Filed under: News - @ September 24, 2025 7:28 pm