Anna 
The Euro to US Dollar exchange rate (EUR/USD) is showing signs of potential upward movement, with analysts eyeing the 1.0650/1.0675 range in the short term. Despite recent negative Eurozone data, including weak economic growth, dwindling confidence, and subdued inflation, a relatively stable dollar environment has sparked optimism for a rebound in EUR/USD.
The currency pair has found itself trading within a newly established short-term range, oscillating between 1.0520 and 1.0700. Market experts are now anticipating a possible surge towards the 1.0650/1.0675 range, with the upcoming US jobless claims report expected to play a pivotal role in triggering this potential upswing.
Although the economic calendar lacks major data releases, the European Central Bank’s (ECB) Chief Economist, Philip Lane, is scheduled to address the public. Market speculators believe that his remarks may hint at the possibility of another interest rate hike in December, even as money markets have increasingly discounted further tightening by the ECB.
As concerns regarding the Eurozone persist, EUR/USD traders are closely monitoring economic indicators and central bank statements for signals that may impact the currency pair’s trajectory in the coming weeks.
