The euro (EUR) is weak, lowering 0.3% against the US dollar (USD) and is an average yield between the currencies of the G10, modestly retreating from its night impulse to a new maximum of a month, says Shaun Osborne, head of Scotyabank FX.
The IPC disappoints markets
“The preliminary data of the IPC of the euro zone for May have offered little in terms of support, with the general CPI and the underlying delivering a slight disappointment to 1.9% year -on -year and 2.3% year -on -year, respectively (compared to expectations of 2.0% and 2.4%, respectively).”
“From a slightly long -term perspective, the recent recovery of the EUR/USD has been promoted fundamentally, with a remarkable change in differentials in the last week or so. The expectations of ECB rates have stabilized in general, and the markets have reduced their relaxation expectations. The risk for Thursday’s ECB meeting is a neutral or hard line cut, given the unequivocally moderate message of the ECB A draft of 25 basic points widely anticipated and totally discounted. “
“The EUR/USD remains well supported with a boost towards new local maximums in the middle zone of 1.14. The RSI is modestly bullish in 58 and remains well below the overcompra threshold in 70. The 50 -day mobile average (1,1221) remains an important level of recent support and the trend of several months remains a bullish with a clear sequence of minimum and maximum higher. be in 1,1350 and the short -term resistance is limited before the upper zone of 1.15. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
