||

EUR/USD remains under duress.

The primary currency pair is displaying weakness today, much like it did yesterday. The current exchange rate for EUR/USD is 1.0792.

The week kicked off quietly with US markets closed for the Labor Day holiday, resulting in a light economic data calendar.

In September, the Sentix Investor Confidence Index for the Eurozone dipped to -21.5 points from the previous -18.9 points, slightly worse than the forecasted -19.6 points.

Christine Lagarde, President of the European Central Bank, is scheduled to deliver a speech today. While her remarks could potentially bolster the EUR exchange rate, the impact may be limited. Investors are increasingly convinced that the ECB has limited leeway to raise interest rates due to economic constraints.

Additionally, the Eurozone is set to release data on the Producer Price Index for August, with expectations of a decrease, along with the Services PMI.

Open Trading Account

The post The Euro's Struggle for Stability - Overview for September 5, 2023 appeared first at R Blog - RoboForex.

-----------------------------------------------------

By: Anna Rostova
Title: The Euro's Struggle for Stability - Overview for September 5, 2023
Sourced From: blog.roboforex.com/blog/2023/09/05/the-euros-struggle-for-stability-overview-for-september-5-2023/
Published Date: Tue, 05 Sep 2023 08:39:08 +0000

Read More