The Euro (EUR) continues to face downward pressure as economic growth data from the Eurozone remains steady, despite better-than-expected Gross Domestic Product (GDP) figures. The pair EUR/USD is trading at 1.1915, with support at 1.1900, as the US Dollar (USD) strengthens. The market's anticipation of US President Donald Trump's Fed Chair replacement announcement has led to a positive reception of former Fed Governor Kevin Warsh's name, indicating the central bank's commitment to independence. Additionally, an agreement on spending bills between US Senate Democrats and Republicans has boosted the USD, further impacting the EUR/USD pair. The preliminary Eurozone Q4 GDP and German Harmonised Index of Consumer Prices (HICP) will be closely watched during the European session, while the US Producer Price Index (PPI) data for December will be a key focus later in the day. The technical analysis suggests a bearish trend for EUR/USD, with support at 1.1895 and potential negative pressure towards 1.1850 and 1.1730. The Euro's performance against major currencies is also highlighted, with the strongest performance against the Australian Dollar. The article concludes with an economic indicator overview, emphasizing the significance of GDP figures in assessing economic health and their impact on currency values.
