The major currency pair appears weak today, Tuesday, just as it did yesterday. The current EURUSD exchange rate stands at 1.0792.
The week started quietly, as US exchanges were not trading due to the Labor Day holiday. The macroeconomic calendar did not feature a lot of economic data.
In September, the Sentix Investor Confidence Index in the Eurozone dropped to -21.5 points from the previous -18.9 points. The forecast suggested a deterioration to -19.6 points.
Christine Lagarde, president of the European Central Bank, will deliver a speech today. There is a possibility that her remarks will bolster the EUR exchange rate, although the impact might not be substantial. Investors are convinced that the ECB has limited room to raise interest rates, as the resilience of the economy is constrained.
The Eurozone will also release data on the producer price index in August (a decrease is expected), and the services PMI.