Euro hangs near YTD low vs USD as focus remains on US macro data and ECB policy update
The EUR/USD pair sticks to a mildly negative bias through the first half of the European session on Thursday, currently trading below 1.1150 and close to its lowest level since May 2025.
The EUR/USD exchange rate is hovering near its lowest level since May 2025, trading just below 1.1150. Traders are focusing on upcoming US macroeconomic data and the European Central Bank's policy update. The Advance Q3 GDP report and Personal Consumption Expenditures (PCE) Price Index, released later today, will provide insights into the Federal Reserve's future policy direction, influencing the USD.
Meanwhile, traders are closely watching the ECB meeting for any potential rate decisions and comments from ECB President Christine Lagarde, which could add volatility to the EUR/USD pair. Concerns over France's political situation and high government debt levels continue to weigh on the euro. Meanwhile, the US Dollar is gaining strength following the Fed's decision to maintain interest rates steady during their October meeting, with traders anticipating a potential 25-basis-point hike in December.
The EUR/USD pair remains below the 100-period Exponential Moving Average on the 4-hour chart, at 1.1216, while traders may seek a break below 1.1115 before positioning for further declines.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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