EUR/USD Softens Below 1.1150: Implications of Majors and Macroeconomics

Monday, 16 September 2024, 21:27

EUR/USD softens below 1.1150 as traders prepare for key US Retail Sales data. The reaction in majors reflects the broader macroeconomics at play.
Fxstreet
EUR/USD Softens Below 1.1150: Implications of Majors and Macroeconomics

Market Overview: EUR/USD on a Softer Path

The EUR/USD pair has shown a softer trend, currently trading near 1.1125. This movement is tied to the modest recovery of the US Dollar during the Asian trading hours.

Influence of Macroeconomics on Majors

  • The upcoming release of Eurozone HICP inflation data on Wednesday is crucial.
  • The market anticipates how these macroeconomic factors will shape future trading actions.
  • Traders are particularly attentive to movements in majors as they prepare for US economic indicators.

Key Factors Impacting EUR/USD

  1. US Retail Sales data is expected to significantly impact the trajectory of EUR/USD.
  2. Eurozone economic performance remains a critical aspect influencing the pair’s dynamics.
  3. Inflation data could sway trader sentiment and market expectations.

For continuous updates and detailed insights on EUR/USD movements, please check back with us.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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