EUR/USD struggles to find direction for third straight day. Rising US T-bond yields helped USD stay resilient against its rivals. Investors await Jobless Claims and Retail Sales data from US. For the third straight day on Wednesday, the EUR/USD pair struggled to make a decisive move in either direction and ended up closing the day little changed near 1.1800. Earlier in the day, the data from the euro area showed that Industrial Production expanded by 1.5% on a monthly basis in July. Although thi
EUR/USD reached a daily high of 1.1846 on Tuesday. USD lost its strength after Core CPI came in lower than expected. Risk-averse market environment doesn't allow EUR/USD to gather bullish momentum. Following Monday's choppy session, the EUR/USD pair stayed relatively quiet during the European trading hours on Tuesday. With the greenback coming under modest selling pressure in the early American session, the pair gained traction and reached a daily high of 1.1846. Nevertheless, the negative shift
A digital euro, currently under design by the European Central Bank, should have a limited role initially as it could disrupt the bank sector and overly extend the role of central banking, Bundesbank President Jens Weidmann said on Tuesday. "A gradual approach might make sense given the risks involved – that means a digital euro with a specific set of features and the option to add further functionalities later," Weidmann told a conference. The ECB gave the digital euro a green light earlier this summer but the actual launch of the currency could still be around five years away.