- EUR/USD fades the previous day’s corrective bounce off weekly low.
- Recently mixed EU, German data raise doubts on hawkish ECB commentary.
- Softer US inflation fails to underpin Fed rate cut bias with mixed details.
- US PPI, second-tier data eyed for clear directions on Euro moves.
EUR/USD takes offers to refresh the intraday low around 1.0970 as it pares the previous day’s rebound from the weekly low heading into Thursday’s European session. In doing so, the Euro pair fails to justify the hawkish expectations from the European Central Bank (ECB), as well as downbeat US inflation clues, amid mixed sentiment.
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