EURUSD: Continue to search for a new peak!
The US Dollar (USD) traded defensively at the start of the week, providing a boost to risk-related assets and encouraging EUR/USD to continue its ongoing recovery, approaching the key barrier of 1.0900.
The pair has risen for the third consecutive day due to the weakening USD and a notable decline in US yields across the board.
Looking ahead, an initial recovery in some fundamental economic factors in the Eurozone, combined with the slowdown in the US economy, is narrowing the monetary policy gap between the Fed and the ECB, thus supporting the EUR/USD recovery.
However, in the long term, the possibility of the ECB cutting rates before the Fed suggests that EUR/USD could weaken further in the coming months.
The pair has risen for the third consecutive day due to the weakening USD and a notable decline in US yields across the board.
Looking ahead, an initial recovery in some fundamental economic factors in the Eurozone, combined with the slowdown in the US economy, is narrowing the monetary policy gap between the Fed and the ECB, thus supporting the EUR/USD recovery.
However, in the long term, the possibility of the ECB cutting rates before the Fed suggests that EUR/USD could weaken further in the coming months.
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