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EUR/USD Pauses at 1.1610-1.1620 Ahead of ECB Meeting and US CPI Figures

Guavy AI Editorial Team
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The EUR/USD pair has stabilized in a narrow trading band between 1.1610 and 1.1620, after initially declining following a stronger US jobs report last Friday.

Danske Bank notes that the data calendar is thin today due to Labor Day holidays in the United States, but attention will shift to the upcoming European Central Bank meeting on Thursday, where a rate hike is widely expected.

In related news, retail sales in the euro area fell by 0.6% month-over-month in July, following a small increase in June. This decline was driven by fuel sales, which weighed on the headline figure.

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