EUR/USD extended a recovery from the early week’s slump toward 1.0800.
Rate cut expectations continue to drive broader market flows.
EU data remains thin, US inflation figures to be key print for the week.
EUR/USD found some room on the high side on Wednesday, getting pushed up the charts by broad-market Greenback selling. Market sentiment has firmly recovered and leaned into renewed rate cut expectations after Federal Reserve (Fed) Chairman Jerome Powell gave his own version of a dovish appearance while giving two-day testimony to US Congressional committees. EU data remains thin outside of final German Harmonized Index of Consumer Prices (HICP) inflation slated for Thursday, and markets will be pivoting to face a double-header of key US inflation data due on Thursday and Friday.
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