The post EUR/USD slumps as ECB rate call looms ahead appeared on BitcoinEthereumNews.com.

EUR/USD shed barely a tenth of a percent on Monday. Despite limited movement, Fiber eased back from 1.0600. US CPI inflation, ECB rate call in the barrel for the mid-week. EUR/USD trimmed its stance slightly on Monday, easing back away from the 1.0600 handle after facing a technical rejection from the key level last week. Euro traders are buckling down for a long wait to Thursday’s rate call from the European Central Bank (ECB), with Greenback bidders awaiting a fresh round of US Consumer Price Index (CPI) inflation updates due on Wednesday. The front half of the trading week is a sedate showing for the Euro as ECB rate cut clouds gather in the distance. The pan-EU Sentix Investor Confidence survey for December fell to a 13-month low of -17.5, keeping Euro bulls at bay. The ECB is broadly expected to reduce both its Main Refinancing Operations Rate and Rate on Deposit Facility by 25 bps each on Thursday. The Federal Reserve (Fed) Bank of New York released its latest summary of consumer survey results during Monday’s American market session, noting that US consumers are riding a tricky line with their economic expectations. According to the NY Fed, US consumers expect a suddenly-improved financial situation for themselves and the federal government, with respondents reporting a sea change in their expectations to afford debt and credit conditions following the re-election of former US President Donald Trump. The same pool of respondents also sharply reduced their expectations for future government borrowing levels. Further complicating the matter for US consumers, the NY Fed’s survey revealed that the same body of surveyed consumers also raised their expectations of future inflation again, with the average respondent expecting inflation to reaccelerate to 3.0% by next November.  US session traders will be looking ahead to a fresh…

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Filed under: News - @ December 10, 2024 12:19 am