EUR/USD Weekly Forecast: FOMC Minutes and EU growth data under scrutiny
This week, investors will be closely watching the release of the Federal Open Market Committee (FOMC) meeting minutes and European Union (EU) growth data to gauge the direction of the EUR/USD pair.
The FOMC minutes will provide insights into the Federal Reserve’s monetary policy stance and any potential changes in interest rates. This could have a significant impact on the EUR/USD pair, as any hints of a more hawkish stance could strengthen the US dollar against the euro.
On the other hand, EU growth data will also be in focus, with investors looking for signs of economic recovery in the region. A stronger-than-expected growth data could boost the euro against the US dollar.
Overall, the EUR/USD pair is likely to be influenced by these key events this week, with investors closely scrutinizing the FOMC minutes and EU growth data for any clues on the future direction of the currency pair.