EUR/USD CATCHES A BID, BUT REMAINS TRAPPED BELOW 1.12
- EUR/USD rose on Tuesday, but bulls remain unable to pierce 1.1200.
- Wednesday’s market session promises little momentum with a thin calendar.
- EU and US inflation data looms large on Friday, but little meaningful until then.
EUR/USD drifted into the high side on Tuesday, bolstered by a continued broad-market easing in Greenback bidding pressure. Fiber ticked back into the high end after the trading week kicked off with a slight pare back in recent gains, but a fresh round of risk-on market sentiment sent bids back into recent highs. Still, the pair remains trapped below the 1.1200 handle as Euro bulls struggle to confidently force Fiber higher.
Fed Chair Jerome Powell all but confirmed that the central bank will pivot into a rate-cutting cycle on September 18 during an appearance at the Jackson Hole Economic Symposium last Friday, sending market appetite into the ceiling once again.
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