Euro is mostly steady today in Forex trading, as many currencies await tomorrow’s policy announcement from the Federal Reserve. Without major data releases for the eurozone today, it’s more about waiting and seeing what’s next with US policy.
Last week was a big week for the euro. The 19-nation currency was hammered after the ECB policy announcement and remarks by Mario Draghi that more stimulus could be on the way.
Today, the euro is holding mostly steady in Forex trading against its major counterparts, eking out slight gains against the dollar and the pound, while moving a little lower against the yen.
However, this is expected to be a quiet week for the eurozone. Data for the 19-nation currency region is sparse, with no major releases today, and little in the way of data later. Most eyes are trained on the United States. The Federal Reserve’s Federal Open Market Committee meeting is underway and an announcement is expected tomorrow. Also, there will be some economic releases.
For now, the euro is waiting. After tomorrow, performance will likely be driven by the United States for a while.
At 13:36 GMT EUR/USD is up to 1.1059 from the open at 1.1058. EUR/GBP is up to 0.7214 from the open at 0.7203. EUR/JPY is down to 132.9790 from the open at 133.9000.
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