EUR/USD remains below 100-day SMA despite hawkish ECB comments, softer USD
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EUR/USD strengthens in reaction to hawkish comments by ECB Governing Council Member Isabel Schnabel, offsetting disappointing German macroeconomic data. The pair is also supported by hopes for a de-escalation of the crisis in the Middle East. However, the USD remains resilient due to expectations that the Fed will keep rates higher for longer. Traders are awaiting the release of US Trade Balance data and speeches by influential FOMC members for short-term impetus.
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