The US Dollar (USD) managed to leave behind part of its recent deep retracement and sparked a corrective decline in EUR/USD, although not before hitting new tops in levels just shy of 1.0900 the figure on Thursday.
EUR/USD rose to two-month highs near 1.0900. The US Dollar regained some ground post-US CPI sell-off. Fed speak sounded cautious ahead of a potential September rate cut. The US Dollar managed to leave behind part of its recent deep retracement and sparked a corrective decline in EUR/USD, although not before hitting new tops in levels just shy of 1.0900 the figure on Thursday.
Regarding the ECB, recent statements from policymakers indicate an increasing likelihood of the bank commencing its easing process in June, though uncertainties persist about the ECB’s decisions beyond the summer. In this context, Board member Hernandez de Cos stated on Thursday that given recent indicators suggesting a more controlled price evolution, the bank is poised to begin rate cuts in June.
Recommended Currencies ECB Fed
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Forecast: US Dollar turns south on dismal US dataThe EUR/USD pair fell to the lower end of its weekly range, extending the slide by a few pips yet holding above the 1.0700 mark during the European session.
Read more »
US Dollar Forecast: Bearish Market Signals Emerge – Setups on EUR/USD, GBP/USDThis article takes a thorough look at the fundamental and technical outlook for the U.S. dollar, analyzing potential scenarios that could manifest in the short run. Especial attention is given to two key pairs: EUR/USD and GBP/USD.
Read more »
EUR/USD Weekly Forecast: Optimism prevailed, hurting US Dollar demandThe EUR/USD pair advanced for a third consecutive week, accumulating a measly 160 pips in that period.
Read more »
EUR/USD Forecast: US Dollar advances as markets anticipate a hawkish FedThe EUR/USD pair keeps trading within familiar levels around the 1.0700 mark as market players refrain from placing strong bets ahead of first-tier United States (US) events.
Read more »
EUR/USD Forecast: US Dollar soars as markets turn risk-averseThe EUR/USD pair surged to 1.0729 during European trading hours, retaining gains and developing above the 1.0700 threshold ahead of the critical United States (US) Gross Domestic Product (GDP) report.
Read more »
US Dollar Forecast: Markets Await US GDP & Core PCE - EUR/USD, USD/JPY, GBP/USDThis article focuses on the fundamental and technical outlook for the US dollar across three key pairs: EUR/USD, USD/JPY and GBP/USD. In the piece, we also explore sentiment and price action dynamics ahead of major US economic releases in the week ahead.
Read more »