The EUR/USD pair regains positive traction on Thursday and reverses a major part of the previous day's retracement slide from the vicinity of a one-we
ek high, around the 1.0765-1.0770 region. Spot prices, however, remain in a familiar range held since the beginning of the current week as traders await the highly-anticipatedThe markets had been expecting a pause in the central bank's historic policy-tightening cycle in the wake of a darkening Euro Zone economic. That said, a Reuters report, suggesting that the ECB could revise its 2024 inflation forecast upwards, well past the 3% mark, ignited speculation about a potential rate hike.
Meanwhile, the core CPI, which strips out volatile items like food and fuel, matched consensus estimates and rose by the 4.3% YoY rate in August, pointing to a still-sticky inflation. This, in turn, keeps hopes for one morerate hike move by the end of this year.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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