Euro is mostly stuck today, trading rangebound. Euro is mainly lower against its counterparts in Forex trading, although there are some small gains against some of the euro’s trading partners. For the most part, euro’s performance is in wait and see mode as traders await the next round of US data and the ECB interest rate decision next week.
Euro is trading mostly rangebound today, logging small gains or losses against its counterparts. Indeed, the euro is still in a range that it has been in pretty much from February, especially with regard to the US dollar.
For now, many Forex traders are waiting for more information before making new moves. Payrolls data is expected from the United States later this week, and many are waiting to see if it will confirm suspicions that the Fed is getting ready to raise rates.
Next week, the European Central Bank will meet to discuss interest rate policy and announce a decision. There are still questions about quantitative easing and what comes next for the euro and the eurozone.
At 14:37 GMT EUR/USD is down to 1.1148 from the open at 1.1189. EUR/GBP is down to 0.8505 from the open at 0.8536. EUR/JPY is higher, though, moving up to 114.91 from the open at 114.04.
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