❗️EUR/USD Modest Gains in Asian Trading Amid Dollar Demand❗️ The EUR/USD pair experienced modest gains in early Asian trading, reaching around 1.0770, a 0.08% increase for the day. However, the potential upside is limited due to renewed demand for the US Dollar and disappointing Eurozone Retail Sales data. Retail Sales in October rose by only 0.1% MoM, below the expected 0.2%, and on an annual basis, it fell from 2.9% to 1.2%, worse than the anticipated 1.1% decline. Factors such as high-interest rates, weak consumer confidence, and concerns about the labor market have collectively subdued private consumption growth. ECB board member Isabel Schnabel, initially advocating for rate hikes, shifted her stance amid consistently low inflation readings. Markets are now pricing in a significant 142 basis points cut in interest rates by the European Central Bank (ECB) next year, with the first expected move as early as March 2024. The evolving economic landscape suggests challenges for the Euro against a backdrop of shifting central bank policies. #EUR/USD# #RetailSales# #ECB# #EuropeanCentralBank'sResolution# #market# #EconomicTrends# #BestProfitGlobal#