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1 Euro to Dollar - For those who want to trade today, here is essential information you need to know about the Euro to Dollar exchange rate. EUR/USD is stable around 1.0900 during the Asian session on Thursday, correcting slightly from a six-week high of 1.0915 after dovish remarks from Federal Reserve Chair Jerome Powell. The European Central Bank (ECB) will announce its monetary policy today, with interest rates expected to remain unchanged.
The ECB is expected to maintain the Deposit Facility Rate at 4.0%, with no changes for the fourth consecutive time. Christine Lagarde's statement following the meeting will be the main focus for insights into the monetary policy and economic outlook.
The Euro may be supported by Eurozone Retail Sales, which were less negative than expected on Wednesday. Although the retail sector still contracted annually by 1%, it was better than the forecasted 1.3% decline, with a 0.1% month-to-month increase.
Fed Chair Powell indicated readiness to reduce borrowing costs "at some point this year," according to the Monetary Policy Report. The regional banking crisis in the US could accelerate this timeline, with investors awaiting further insights on Thursday.
The US Dollar Index (DXY) weakened, impacted by a decline in US Treasury yields and weak US employment data. The February ADP Employment Change in the US fell short of expectations but still increased, while January’s US JOLTS Job Openings dropped, missing market forecasts. The Nonfarm Payrolls (NFP) report will be released next Friday.
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That’s today’s forex news on “How Much is 1 Euro in USD? Be Prepared Before Profiting, Euro Remains Steady!” This analysis is based on both fundamental and technical perspectives from reliable sources and is not a recommendation or solicitation. Always remember that this content is intended to provide information to readers. Always conduct your own research first regarding other forex information to serve as a reference for your trading.
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