The US Dollar kept shedding ground throughout the first half of Thursday, peaking during European trading hours at 1.0883.
EUR/USD Current price: 1.0880 The US Dollar eased further ahead of the US Consumer Price Index. The European Central Bank will announce its decision on monetary policy next Thursday. EUR/USD gains bullish traction in the near term, faces resistance at 1.0910. Speculative interest is trying to find out when central banks will kick start loosening their monetary policies, with the focus this week on the Fed eral Reserve and the European Central Bank .
No changes are expected this time, but whatever they announce on future decisions will surely be a catalyst for EUR/USD. Meanwhile, a scarce macroeconomic calendar exacerbates range trading. The ECB released the Bank Lending Survey , which showed banks reported a slight further tightening of their credit standards for loans or credit lines to enterprises in the first quarter of 2024.
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