EUR/USD bears stay in the driver’s seat despite late Wednesday’s corrective bounce, declining to 1.0720 amid early Thursday in Asia. In doing so, the
Officials to keep suggesting an end of the rate hike cycle in the bloc, which in turn exerts downside pressure on the EUR/USD price.
That said, European Central Bank's Governing Council member Francois Villeroy de Galhau again flagged the nearness to the peak rates while adding, “Our options are open at the next and the upcoming rate meetings.” Talking about the US catalysts, the ISM Services PMI rose to a six-month high of 54.5 in August versus 52.5 expected and 52.7 prior. Further, the final readings of the S&P Global Composite and Services PMIs eased to 50.2 and 50.5 for the said month compared to the initial estimations of 50.4 and 51.0 in that order.
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