Trading volatility: EUR/USD eyes US inflation and ECB rates decision this week
Traders might expect some short term action in the EUR/USD for the week commencing 8 April 2024, with US CPI inflation data and the ECB MPC meeting as likely catalysts for volatility.
(AI Video Summary)
Watching EUR/USD pair in the coming week
The week of April 8th presents notable trading risk events, particularly in the US CPI inflation data release and the FOMC meeting minutes. Following these, the ECB's policy statement and rate announcement will likely influence the EUR/USD market, urging traders to monitor movements closely. The EUR/USD is currently in a range-bound state, offering trading opportunities at key breakout or reversal levels. Recent US employment data has strengthened the US dollar against the euro, indicating potential shifts in trading strategies around specified price levels. Shaun Murison, Senior Market Analyst at IG South Africa, guides traders through navigating these events and market conditions.
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