EUR/USD flat near 1.0850; Silver surges ahead of ECB decision

EUR/USD traded in a tight range around 1.0850 during the European morning session, with major currency pairs showing minimal movement ahead of the ECB's rate decision. The session's standout performer was silver, which posted significant gains, reflecting increased demand for precious metals amid monetary policy uncertainty. Forex markets remained subdued with EUR/USD, GBP/USD, and USD/JPY all trading within 0.1% of their opening levels. The lack of directional conviction suggests traders are reluctant to take substantial positions before the ECB announcement. Technical indicators point to consolidation, with EUR/USD trapped between 1.0830 support and 1.0870 resistance. The silver rally could indicate underlying concerns about currency debasement, potentially supporting precious metal-correlated currencies like AUD and CAD. Post-ECB volatility expected to break current ranges.