Traders move to fully price in an ECB rate cut for April again

<p>The slight nudge higher in the rate cuts pricing is weighing on the euro, with EUR/USD down 0.3% to a low of 1.0805 currently. The pair may run up against bids at 1.0800 once again but the key technical level to watch down here will be the 100-day moving average at 1.0778.</p><p>The <a href="https://www.forexlive.com/news/france-january-preliminary-cpi-31-vs-37-yy-prior-20240131/" target="_blank" rel="follow">French inflation data</a> showed softer price pressures overall to start the year. And the German data coming up later should reflect a similar picture as well.</p>

This article was written by Justin Low at www.forexlive.com.