The Euro US Dollar (EUR/USD) exchange rate is trading cautiously, treading water at US$1.1845.
All eyes are on the Federal Reserve. Whilst the Fed is not expected to move on monetary policy, they could offer more details on the newly adopted average inflation target policy framework, announced last month. Updated economic projections will be closely watched.
US retail sales are expected to show +1.1% rise MoM in August.
The Euro has been broadly supported since the last ECB meeting. Yesterday’s German ZEW investors sentiment data unexpectedly rose, boding well for the economic recovery.