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EUR/USD edges up from lows ahead of Richmond Fed index

At 2pm GMT this afternoon the latest Richmond Fed index will be released and it can sometimes have an impact across the US markets. Right now it seems that US bonds are looking for any decent excuse to fall (and push yields higher), so in that sense strong data here will be the key to any reaction in the dollar. Earlier the EUR/USD fell to a session low at 1.0829 after some of the regional German CPI data missed on the downside. However, as expected the Euro has since rebounded somewhat, back towards that 1.0850 pivotal level once more. This Richmond Fed index could decide, whether there is another attempt on the downside, or we continue trade laterally ahead of the move important PCE data on Friday. The EUR/USD is currently trading at 1.0846
 

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