EUR/USD Might Be Testing 10 Year Lows Soon


EZ fundamentals have remained largely unchanged, exposing the euro to additional weakness.

The Euro found some support earlier today, despite its poor performance against the USD yesterday. The Euro is vulnerable to downside risk as fundamental headwinds significantly offset any positivity as the eurozone moves into the winter season.

Markets await a change in the Fed’s hawkish stance or a marked reduction in the inflationary pressures to change the tide for EUR/USD and make the currency pair a consideration for the bull markets.

The economic calendar from Europe is fairly bright

However, speakers from both the U.S. and ECB will be under the spotlight throughout the day. High-impact economic data events will come from U.S. durable goods orders and consumer confidence for August and September, respectively.

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