The EUR/USD currency pair has gained momentum, climbing to approximately 1.1615 during Tuesday's Asian trading session. This upward movement follows a decline in the US Dollar, fueled by disappointing US Manufacturing PMI data that has intensified speculation regarding a potential interest rate cut by the Federal Reserve later this month.
As the exchange rate strengthens above the key 1.1600 level, traders are closely monitoring the upcoming Eurozone Harmonized Index of Consumer Prices (HICP) data. A robust release could further bolster the Euro, while any indication of economic weakness may challenge its recent gains against the USD. Market sentiment remains cautious as investors anticipate the Fed's next move in light of the current economic landscape.
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Data Source: FX Killer Analysis Team Updated: 2025-12-02 05:19
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.