Fundamental OverviewThe USD remains under pressure amid the aggressive market pricing for rate cuts and better global growth expectations following the recent huge Chinese easing measures. It’s now a battle between global growth supporting the risk sentiment and weighing on the greenback and the aggressive rates pricing which could be scaled back if the US data starts to pick up. On the EUR side, the market has basically fully priced in a back-to-back cut in October from the ECB following the latest weak Eurozone PMIs and “leaks” of ECB officials being open for a rate cut in October. The expectations were reinforced further this morning following the soft French and Spain CPI figures. EURUSD
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