We have a great set up. Looking at the FVG EUR/USD rises further to 1.0880 as the US Dollar extends its downside.
The US Dollar weakens even though investors see the Fed returning to policy normalization in the last quarter of the year.
ECB policymakers refuse to commit to more rate cuts after June.
EUR/USD posts a fresh weekly high at 1.0880 in Tuesday’s European session. The major currency pair strengthens amid soft US Dollar (USD) and deepening uncertainty over the pace at which the European Central Bank (ECB) will reduce key borrowing rates after the June meeting.
The US Dollar Index (DXY), which tracks the US Dollar’s value against six major currencies, extends its decline to 104.40. The US Dollar is facing the heat even though investors’ expectations for the Federal Reserve (Fed) reducing interest rates from the September meeting have faded significantly. The CME FedWatch tool shows that the probability of the Fed maintaining the current policy framework in September has increased to 50% compared with the roughly 35% seen a week before.
The US Dollar weakens even though investors see the Fed returning to policy normalization in the last quarter of the year.
ECB policymakers refuse to commit to more rate cuts after June.
EUR/USD posts a fresh weekly high at 1.0880 in Tuesday’s European session. The major currency pair strengthens amid soft US Dollar (USD) and deepening uncertainty over the pace at which the European Central Bank (ECB) will reduce key borrowing rates after the June meeting.
The US Dollar Index (DXY), which tracks the US Dollar’s value against six major currencies, extends its decline to 104.40. The US Dollar is facing the heat even though investors’ expectations for the Federal Reserve (Fed) reducing interest rates from the September meeting have faded significantly. The CME FedWatch tool shows that the probability of the Fed maintaining the current policy framework in September has increased to 50% compared with the roughly 35% seen a week before.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.