EUR/USD stretched to a fresh weekly low below 1.0550 early Thursday after closing in negative territory for the second consecutive day on Wednesday. T
EUR/USD edged lower to the 1.0550 area early Thursday. The ECB is widely expected to leave key rates unchanged. The US economic docket will feature third-quarter growth data. he US Dollar outperformed its rivals mid-week, supported by rising US Treasury bond yields. Additionally, the negative shift witnessed in risk mood on news of Israel preparing for a ground assault allowed the USD to find demand as a safe haven.
The European Central Bank is widely expected to leave key rates unchanged following the October policy meeting. In case the ECB leaves the door open for additional tightening in the near future, the initial reaction could provide a boost to the Euro. Market participants will also pay close attention to the language in the policy statement and ECB President Christine Lagarde's comments.
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