Forex traders received a big cache of economic data out of the Eurozone today. It showed that inflation remains absent while the economy is under-performing, but the EURUSD managed to extend its rally after the FOMC cut interest rates yesterday. It is Mario Draghi’s last day at the ECB, will a change in leadership rally the Euro or should forex traders prepare for sell-off? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

The US Dollar is under selling pressure against the Euro, despite Fed Chief Powell stating that a pause in the interest rate cut cycle is next. Economic data out of the US continues to show a weakening economy and forex traders will get key personal income and spending data today as well as the Chicago PMI. How will this influence price action in the EURUSD? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this currency pair.