After last week’s weak U.S. jobs report, expectations of Federal Reserve rate cuts continued, and U.S. long-term interest rates kept falling. The euro stayed firm.
On this day, the French parliament voted against Prime Minister Baille’s government. However, the market had already expected this, so the euro was not affected and remained steady.
Before the European Central Bank (ECB) meeting on the 11th, traders are careful about making big moves. Still, many believe rate cuts are close to ending. Because of this, the euro may test its late-July high near 1.1788, which was before the tariff deal.
Euro/Dollar expected range: 1.1700 – 1.17900 USD
Note: The above is not a promise of profit. Please make your own decision when trading.