Euro (EUR) is weak, down 0.4% against the US Dollar (USD) and a mid-performer among the G10. Trade-related headlines continue to dominate and data releases have been limited, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
ECB comments remain dovish
“ECB Governing Council member Holzmann has added to this week’s run of dovish commentary, echoing other recent remarks about the disinflationary impact of US tariffs. Markets are pricing in 25bpts of easing for the next ECB policy decision on June 5 and are pricing a cumulative 65bpts of rate cuts by year end.”
“Technicals remain bullish given the clear sequence of higher lows and higher highs. The RSI is softening but still in bullish territory above 50. The near-term range is roughly bound between support in the upper 1.12s and resistance around 1.1550.”
- Euro: Upside risks after sharp Dollar shift – ING
- Gold Forecast: Looks to snap four-month losing streak but sellers refuse to give up
- Euro trims daily losses as German preliminary GDP beats expectations
- XAU/USD outlook: Gold remains at the back foot ahead of Fed, inflation data.
- Gold Price Forecast: XAU/USD looks to the Fed for the next big move
Free Forex Signals 
Leave a comment