# Euro edges up ahead of busy day in US markets

> The euro rose against the dollar in European trade for the first time in four sessions, moving away from six-week lows near $1.0719. EUR/USD traded at $1.0753 as investors awaited U.S. May inflation data and the Fed decision. Traders priced a 52% chance of a September Fed cut.

- Date: 2024-06-12 · published 2024-06-12T12:00:00.000Z
- Category: market · region Europe · magnitude low
- Page: https://feedsoft.ai/events/10803-euro-edges-up-ahead-of-busy-day-in-us-markets
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Routine pre-data positioning in the euro and the dollar has limited direct effect on feed commodity prices. Traders will watch the U.S. inflation data for the signal it gives on the timing of Fed easing.

## Read by commodity

- EURUSD: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2024-06-12 | 1 | +1.0% | 3.3 | The euro was bouncing from six-week lows near 1.0719 ahead of the CPI release, so this sets the low starting base that the CPI-driven jump moved away from. |

## Sources

- economies.com: https://www.economies.com/forex/eur-usd-news/euro-edges-up-ahead-of-busy-day-in-us-markets-44483

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.