EUR/USD Steady at 1.1700 Ahead of ECB Policy Decision
EUR/USD lingers around 1.1700 mark ahead of ECB monetary policy announcement
Business Standard
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The EUR/USD currency pair is trading at 1.1702, reflecting a 0.32% increase as investors await the European Central Bank's monetary policy announcement. Despite modest economic growth in the Eurozone, rising crude oil prices are intensifying inflationary pressures, with annual inflation reaching 3% in April.
- 01EUR/USD is currently trading at 1.1702, up 0.32%.
- 02Eurozone GDP grew by 0.1% in Q1 2026.
- 03Year-on-year GDP increased by 0.8% in the euro area.
- 04Annual inflation in the Eurozone rose to 3% in April.
- 05EUR/INR futures are at 111.60, up 0.21%.
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The EUR/USD pair is trading at 1.1702, reflecting a 0.32% increase as market participants anticipate the European Central Bank's upcoming monetary policy announcement. Economic growth in the Eurozone remains sluggish, with the gross domestic product (GDP) growing by only 0.1% in the first quarter of 2026, according to Eurostat. Year-on-year, the GDP rose by 0.8% in the euro area and 1.0% in the European Union, down from 1.3% and 1.4% in the previous quarter. Inflationary pressures are mounting due to soaring crude oil prices, with annual inflation in the Eurozone rising to 3% in April from 2.6% in March. Additionally, EUR/INR futures are quoted at 111.60, marking a 0.21% increase on the day.
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The rise in inflation may lead to increased costs for consumers in the Eurozone, affecting purchasing power and potentially leading to higher interest rates.
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