EUR/USD maintains a neutral position as it anticipates critical economic data.
The major currency pair is in a state of pause as we approach the middle of the week. The current exchange rate for EUR/USD is at 1.0605.
This primary currency pair is confined within a narrow range as the market awaits the release of the latest meeting minutes from the US Federal Reserve, keen on the insights they may unveil.
Recent statements from various Fed representatives suggest a potential delay in the need for tightening the monetary policy. Their remarks have shifted to a more cautious and measured tone.
Raphael Bostic, president of the Federal Reserve Bank of Atlanta, mentioned yesterday that there might not be a pressing need for the central bank to raise borrowing costs. Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, echoed a similar sentiment.
Today, the spotlight is on September’s price data, especially within the manufacturing sector. The focal publication of the day will be the minutes from the Federal Reserve’s previous meeting.
The post EUR/USD Pauses for Key Data: Summary for October 11, 2023 appeared first at R Blog – RoboForex.