EUR/USD PRICE FORECAST: CONSOLIDATIVE PHASE AROUND 1.0500 CONTINUES
EUR/USD PRICE FORECAST: CONSOLIDATIVE PHASE AROUND 1.0500 CONTINUES
The EUR/USD pair is staying around the 1.0500 level, with small movements in a 60-pip range.
It has posted slight gains but lacks a clear direction.
Investors are cautious ahead of the U.S. Federal Reserve's rate decision, expected next Wednesday.
The Fed is likely to cut rates by 0.25%, but market players are looking for further clues from the Fed's projections and comments from Chairman Jerome Powell.
The December Purchasing Managers’ Index (PMI) reports show that the Eurozone economy is still contracting.
Germany's economy is slowing, with a decline in business activity for the sixth month, though services showed some improvement.
U.S. Manufacturing PMI contracted, but services output improved more than expected.
U.S. Retail Sales for November are expected to rise by 0.5%, slightly better than October's 0.4% increase.
