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Currency Brief: EUR/USD Breaks 1.17 Support; AUD Traders Eye CPI Data
Abstract：The Euro has slipped below key support against the Dollar amid slowing economic activity, while Aussie traders await critical inflation data.
EUR/USD drifted lower on Tuesday, sliding below the 1.1700 handle as divergent economic outlooks continue to favor the Greenback.
Eurozone Slowdown Weighs
Sentiments for the single currency remain damped by fresh data indicating a deceleration in Eurozone economic activity. Combined with neutral-to-dovish commentary from Federal Reserve officials, the pair has struggled to find bullish momentum. Investors are increasingly concerned that the ECB may be forced to cut rates faster than the Fed if regional growth stagnates further.
High Stakes for the Aussie
Across the Pacific, the Australian Dollar (AUD) is in a holding pattern ahead of crucial inflation data.
USD/JPY and other major pairs remain sensitive to the broader risk-off tone generated by rising geopolitical tensions in Europe and the Americas.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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