The major currency pair remains in a neutral position as we approach midweek. The current EURUSD exchange rate stands at 1.0605.
The primary currency pair is holding within a narrow range while the market is awaiting the release of the latest meeting minutes from the US Federal Reserve and the signals they may provide.
In recent days, Fed representatives have repeatedly suggested that the regulator may not need to tighten the monetary policy for longer than initially thought. Their comments have taken on a more measured and cautious tone.
Raphael Bostic, president of the Federal Reserve Bank of Atlanta, noted yesterday that there may no longer be a compelling reason for the central bank to raise borrowing costs. Subsequently, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, expressed a similar viewpoint.
Today, the focus of attention will be on September's price data, particularly in the manufacturing sector. The main publication of the day will be the minutes from the Federal Reserve's previous meeting.