EURUSD

Terry_8

Trader
Mar 23, 2020
185
7
19
50
EURUSD EASES MARGINALLY AS MARKET PARTICIPANTS AWAIT FRESH CATALYST

The single currency ticks mildly lower versus its US counterpart in the early Asian hours on Wednesday as market participants look forward to the fresh catalyst that can infuse some volatility in the pair. As of this moment, the currency pair is trading at 1.1906, down by 0.02%.

Coming on to the previous session, the currency pair surged above its crucial psychological level of 1.20 owing to the broad-based USD weakness that dipped to the levels last seen more than two years ago. The U.S Fed's new policy framework kept the dollar under pressure as investors assumed that the lower interest rates will stay for a longer time.

However, the pair was quick to revert from the day’s high turning red for the day following the release of upbeat data from the American economy. The US ISM manufacturing data came at 56, surpassing the market expectations of 54.6. Consequently, the pair concluded the session at 1.1911, down by 0.21%.

On the economic docket, investors must keep an eye on the Eurozone’s Producer Price Index data, US ADP Non-Farm Employment Change data, and US Factory Orders data for fresh trading impetus.

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