The euro currency fell to 1.1098 on Friday, a two-year low. The declines came as data from the eurozone continued to deteriorate. This raises the prospects for the ECB to announce its stimulus plans when it meets on September 12th. The ECB has already pledged its commitment to start the QE program. But the size and scope of the stimulus plan is the subject of speculation.
EUR/USD to Remain Subdued into ECB Meeting
The common currency is unlikely to make any major advances in the next week. This comes as traders line up ahead of the ECB’s monetary policy meeting. The current lows are likely to hold for the moment. As a result, EURUSD could be trading subdued below the resistance area of 1.1030.
