• EUR/USD continues to get vexed by 1.0900 level in the near-term.
• Europe inflation, ECB rate call in the pipe for the mid-week.
• ECB Bank Lending Survey, euro area January Consumer Confidence due Tuesday.

The EUR/USD is shuffling its feet on Monday as traders take the opportunity to gather themselves up ahead of this week’s hectic showing from multiple central banks across the globe.

Europe sees an update from the European Central Bank’s (ECB) Bank Lending Survey and January’s preliminary Consumer Confidence, both due on Tuesday. Wednesday drops a fresh round of euro area Purchasing Manager Index (PMI) figures, and investors will be bracing for another rate call from the ECB on Thursday.

Daily digest market movers: EUR/USD continues to hold near 1.0900 after trimming gains last week

• A quiet Monday is set to give way to a hectic midweek with an ECB rate call taking center stage.
• Market expectations of rate cuts in 2024 have run well ahead of what policymakers might be able or willing to deliver.
• ECB is firmly entrenched in holding rates steady until summer at the earliest, barring any significant developments in economic data.
• Tuesday’s euro area Consumer Confidence in January is forecast to uptick from -15.0 to -14.3.
• Wednesday’s pan-EU HCOB Composite PMI is expected to rebound slightly in January, from 47.6 to 48.0.
• Germany’s HCOB Composite PMI is likewise seen rising from 47.4 to 47.8 in January.
• With the ECB functionally guaranteed to hold its main reference rate at 4.5% on Thursday, investors will be deep-diving on the ECB’s ensuing Monetary Policy Statement