The EUR/USD pair has found its footing.
The primary currency pair steadied itself on Monday, with the current EUR/USD exchange rate holding at 1.0910.
After a surge in volatility last Thursday and Friday, fueled by a slew of crucial market statistics, stability is expected to return as the market digests the gathered data.
As anticipated, the meetings of the US Federal Reserve and the European Central Bank concluded with the maintenance of interest rates at 5.50% and 4.50%, respectively.
Preceding this, the market witnessed ample statistical data. November's retail sales in the US increased by 0.3% m/m following a decline in the previous month. Industrial production saw a 0.2% rise, slightly below the anticipated growth of 0.3%. October had witnessed a 0.9% decline in industrial production parameters. The US PMI in production for December witnessed a drop to 48.2 points, presenting a critical report. These figures are unsurprising given the persistently high inflation.
November saw industrial production in the US falling below expectations, with the capacity utilization index also delivering less-than-impressive results.
Now, the market has the opportunity to thoroughly analyze the available data.