EUR/USD Extends Losses As Dollar Fundamentals Pile Up Pressure
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#acbb1c95 ver:0.41
The EUR/USD currency pair is currently trading at 1.08273, down 0.04% on the day, as strong US dollar fundamentals exert downward pressure. The pair has struggled to gain momentum and remains below the key resistance level of 1.0840. The US economy reported a rise in Durable Goods Orders by 1.4% in February, surpassing the forecast of 1.2%. This positive economic data has contributed to the strength of the US dollar, with the DXY index staying above 104.000. Additionally, yields on benchmark 10-year US Treasury bonds have remained strong, surpassing 4.200 for over a week. The Federal Reserve predicts that the US economy will grow by 2.1% in 2024, with three interest rate cuts expected. As long as the EUR/USD pair remains below the 1.0840 pivot level, sellers will be in control. However, a ...
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