EUR/USD inches lower for first in 4 sessions

Euro fluctuated lower during the Asian session to see its bounce for the second session of its highest since March 4th against the US dollar, on the eve of developments and economic data expected on Wednesday, by the largest euro-zone economies, Germany, and in conjunction with the meeting of the Federal Open Market Committee in Washington.

As of 04:58 GMT, EUR/USD fell 0.05% to $1.1346, compared with the opening at $1.1346, after hitting a high of $1.1357, while reaching a low of $1.1343.

The markets are currently waiting for the euro-zone's largest economy, Germany, to release the Producer Price Index (PPI), an initial indicator of inflationary pressures, which could reflect a contraction of growth to 0.2% from 0.4% in January. 2.9% compared to 2.6% in the previous annual reading for the month of January.

On the other hand, markets are now looking forward the FOMC meetings for 19-20 of March amid expectations that Fed policy makers will keep interest rates between 2.25% and 2.50% and move forward in reducing bond buybacks With $50 billion a month and pricing the possibility of raising the interest rates on federal funds once this year.

Investors are also looking the reveal of expectations of growth and unemployment as well as inflation and future interest rates for the next three years by FOMC members, ahead of Fed Chairman Jerome Powell's forthcoming press conference, which recently announced the Fed's intention to be patient and monitor the economical data before resuming monetary policy tightening or not.