EUR/USD holds above 1.0800 on a weaker US Dollar, eyes on US data, Fed's Bostic speech
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EUR/USD is trading at 1.0816, adding 0.08% on the day. The Federal Open Market Committee (FOMC) held rates steady at 5.25–5.50% for a fifth consecutive meeting last week. FOMC Chair Powell said the recent elevated CPI inflation data hadn’t changed the view that inflation is trending lower. ECB Governing Council member Edward Scicluna stated that an interest-rate cut from the ECB as soon as April could be warranted and shouldn’t be ruled out. The Chicago Fed National Activity Index and US New Home Sales data will be released on Monday, along with the Fed's Bostic speech. The German Retail Sales and US GDP Annualized growth numbers for Q4 will be released on Thursday.