The euro fell to 1.0353 during Tokyo and European trading but later recovered to 1.0396 in New York after weak U.S. economic data.
Today, the European Central Bank (ECB) will announce a new estimate for the neutral interest rate. Traders are paying attention to ECB President Lagarde’s comments. If the estimate is 2%, it may suggest three more rate cuts, which could cause the euro to weaken
Since the euro rebounded after weak U.S. jobs data yesterday, another weak U.S. jobs report today may lead to more euro selling.
Expected EUR/USD Range: 1.0410 – 1.0300
Note: This information does not guarantee profits. Please make your own decisions when trading.