EUR/USD ticks lower with markets awaiting the end of US shutdown

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EUR/USD shows marginal losses on Wednesday, trading at session lows near 1.1670 at the time of writing, after peaking above 1.1600 on Tuesday. Investors are reluctant to take excessive risks during the European session, awaiting the US Congress to pass the bill that will restore the US government funding, and the release of a batch of US official figures, for a better assessment of the country’s economic momentum. Germany’s Harmonized Index of Consumer Prices (HICP), released earlier on Wednesday, confirmed the preliminary estimations, revealing that consumer inflation remains steady in October at levels broadly in line with the European Central Bank’s (ECB) target for price stability. Wholesale Price Index MoM ticked up last month, according to data by Destatis. All in all, endorsing the central bank’s monetary policy stance. Figures released by ADP on Tuesday showed a net loss in private employment of 11,250 jobs in the four weeks ending October 25. The report restated the deterioration of the US labour market, adding pressure on the Federal Reserve (Fed) to lower borrowing costs further at its December meeting, and weighed down on the US Dollar. In Wednesday’s economic calendar, ECB Vice President Luis De Guindos and board member Isabel Schnabel will provide some distraction during the European session, while in the US, a slew of Fed speakers might comment on the latest news on employment and give further insight into the bank’s rate path. Euro Price Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Japanese Yen. USD EUR GBP JPY CAD AUD NZD CHF USD 0.10% 0.29% 0.50% 0.04% -0.08% 0.00% -0.11% EUR -0.10% 0.20% 0.39% -0.06% -0.18% -0.10% -0.21% GBP -0.29% -0.20% 0.20% -0.25% -0.37% -0.29% -0.40% JPY -0.50% -0.39% -0.20% -0.46% -0.58% -0.50% -0.61%…