EUR/USD Stabilizes as Traders Await US Employment Data
The EUR/USD currency pair has stabilized above 1.1600 as traders await the release of US employment data for August. This data is expected to provide crucial information on the US interest rate path, which could have a significant impact on the value of the Euro against the US dollar.
According to Christopher Waller, a Federal Reserve Governor, he would support keeping interest rates steady at the September meeting if there are no surprises from upcoming inflation data. This statement seems to contradict the hawkish statements made by Chairman Kevin Warsh last week.
The market-implied chance for a rate hike at the September policy meeting has fallen following Waller's comments, with traders now pricing in just 50.2% probability, down from 63.2% on Wednesday.