EURUSD Holds Near 11-Month Low Awaiting Slew Of Data; EURINR Futures Attempt Mild Recovery

Published on Oct 04, 2023 13:24

Euro holds around $1.05 levels on Wednesday awaiting a slew of data that could provide further direction to the common currency that has been severely battered by dollar strength since the past few days. Currently, EURUSD pair is flat at $1.0510 while entering into the European session. Broad gains in the dollar, holding at around 11-month peak is adding pressure on the single common currency. Eurozone Producer Price Index (PPI), Retail Sales and German PMI are keenly awaited for further cues. Also, the European Central Bank (ECB) President Lagarde`s speech on Wednesday will be watched for clarity on direction. On the NSE, EURINR October futures are attempting recovery from recent sharp slide and quoting at 87.44, up 0.1% on the day.