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Euro sees fresh downside below 1.1050 against US Dollar, US PPI in focus
The Euro (EUR) continues to tread cautiously against the US Dollar (USD), facing fresh downside as it dips below the 1.1050 mark, currently finding temporary support around 1.1047. This downward pressure is exacerbated by the upcoming US Producer Price Index (PPI) data, which could further influence market sentiment. Our desk views this as a critical moment, with resistance anticipated as the Euro's trajectory remains closely tied to US economic indicators. The market's focus will be not only on PPI but also on broader implications for monetary policy and inflation outlooks.