EUR/USD EDGES HIGHER AMID US DATA MISS, ECB’S DECISION

• EUR/USD is buoyed by a weaker US Dollar following underwhelming US services sector performance.
• The Eurozone's strong services and composite PMI readings suggest a slow yet positive economic recovery despite ongoing risks.
• Market expectations shift, now forecasting close to 1% in Fed rate cuts by the end of 2024, as attention turns to an imminent ECB policy meeting.

During the North American session, the Euro extended its gains of more than 0.10% as the Greenback weakness in early Tuesday trading. After meandering at around the day’s lows of 1.0840, weaker than expected US data, the EUR/USD trades at around 1.0870.