The EUR/USD rose on Thursday and was heading towards its highest daily close in over a week, despite risk aversion in the market, boosted by a weaker
Fed's Powell suggests keeping rates unchanged and waiting for more data. The US Dollar weakened, albeit modestly, following US data and Powell's remarks. The EUR/USD maintains a bullish bias in the short term. US dollar. However, the pair failed to hold above the 1.0600 level, indicating that there are still obstacles ahead on the upside path. Germany will report the September Producer Price Index on Friday. The annual rate is expected to decline from -12.6% to -14.2%.
He also emphasized that inflation remains a risk. This message aligns with recent discussions from the Fed, which have indicated a stance of maintaining steady rates if inflation continues to slow and the economy does not show further strengthening. EUR/USD short-term technical outlook The EUR/USD has experienced a rise for the third time in the past four days and is above the 20-day Simple Moving Average .
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