After yesterday’s (July 2nd) losses, EUR/USD is fluctuating, trading close to the 1.26 line. Last week’s euphoria has quickly given way to market uncertainty as to whether the new measures outlined at the European Summit will resolve the crippling debt crisis. Attention is now shifting to the ECB. There are growing expectations (and hopes) for a rate cut by the central bank when it meets on Thursday. Euro-zone PPI was a disappointment, contracting by 0.5% in June. There are only a few releases scheduled for today, as the US gears up for the Fourth of July holiday.
Here’s an update on technicals, fundamentals and what’s going on in the markets.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-july-3-markets-looking-for-ecb-rate-cut/"]EUR/USD - Markets Looking for ECB Rate Cut[/URL][/I][/B]
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