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EUR/USD flattens before New Year amid light trading conditions
The post EUR/USD flattens before New Year amid light trading conditions appeared on BitcoinEthereumNews.com. EUR/USD trades in a limited range above 1.0400 as volumes are low with investors enjoying holidays as the end of 2024 approaches. The Euro is poised to end the year with an almost 5.5% loss against the US Dollar due to the ECB’s dovish guidance and the potential trade war with the US. This week, US investors will focus on the US ISM Manufacturing PMI data for December. EUR/USD trades lackluster slightly above 1.0400 due to illiquid trading activity in the European session on Monday. The Euro (EUR) is set to wrap up the calendar year with an almost 5.5% decline against the US Dollar (USD), hit particularly hard during the last three months of 2024 as the European Central Bank (ECB) maintained dovish guidance on interest rates. Additionally, market participants are worried about the Eurozone’s economic growth as incoming tariff hikes from United States (US) President-elect Donald Trump will likely jolt its export sector. The ECB reduced its Deposit Facility rate by 100 basis points (bps) to 3% this year and is expected to lower it to 2%, which policymakers see as a neutral rate, by the end of June 2025. This suggests that the ECB will cut its key borrowing rates by 25 bps at every meeting in the first half of next year. A slew of ECB policymakers have expressed concerns about the risks of inflation undershooting the central bank’s target of 2%, given the political uncertainty in Germany and the potential trade war with the US. ECB officials have expressed opposing views on how the continent should address the US trade situation. Last week, ECB President Christine Lagarde said in an interview with the Financial Times (FT) that retaliation was “a bad approach” because she thinks that trade restrictions and a tit-for-tat response “is just bad…
The post EUR/USD flattens before New Year amid light trading conditions appeared on BitcoinEthereumNews.com.
EUR/USD trades in a limited range above 1.0400 as volumes are low with investors enjoying holidays as the end of 2024 approaches. The Euro is poised to end the year with an almost 5.5% loss against the US Dollar due to the ECB’s dovish guidance and the potential trade war with the US. This week, US investors will focus on the US ISM Manufacturing PMI data for December. EUR/USD trades lackluster slightly above 1.0400 due to illiquid trading activity in the European session on Monday. The Euro (EUR) is set to wrap up the calendar year with an almost 5.5% decline against the US Dollar (USD), hit particularly hard during the last three months of 2024 as the European Central Bank (ECB) maintained dovish guidance on interest rates. Additionally, market participants are worried about the Eurozone’s economic growth as incoming tariff hikes from United States (US) President-elect Donald Trump will likely jolt its export sector. The ECB reduced its Deposit Facility rate by 100 basis points (bps) to 3% this year and is expected to lower it to 2%, which policymakers see as a neutral rate, by the end of June 2025. This suggests that the ECB will cut its key borrowing rates by 25 bps at every meeting in the first half of next year. A slew of ECB policymakers have expressed concerns about the risks of inflation undershooting the central bank’s target of 2%, given the political uncertainty in Germany and the potential trade war with the US. ECB officials have expressed opposing views on how the continent should address the US trade situation. Last week, ECB President Christine Lagarde said in an interview with the Financial Times (FT) that retaliation was “a bad approach” because she thinks that trade restrictions and a tit-for-tat response “is just bad…
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