The EUR/USD price is hovering near its lowest level since March 21st this year as more signs showed that the Federal Reserve could hike rates again in June.
GET STARTEDThe EUR/USD pair retreated after the US published better-than-estimated consumer confidence numbers. According to the Conference Board, consumer confidence dropped slightly to 102.3 in May from the previous month’s 103.7.
Further data showed that the housing sector was doing better than estimates. The report revealed that the house price index rose by 0.6% in from February to March. This increase translated to a year-on-year jump of 3.6%. The housing sector has been relatively resilient, helped by the country’s low inventories.
Therefore, with inflation being sticky and consumer confidence steady, there is a likelihood that the Fed will deliver another 0.25% rate hike in June. Looking at the economic calendar, there will be several important numbers to watch on Wednesday. Germany will publish May’s jobs and preliminary consumer inflation data. Christine Lagarde will talk and possibly provide more hints about what to expect in June. In the US, the Federal Reserve will publish its beige book.The EUR/USD pair drifted downwards after the better-than-expected US consumer confidence and housing data. It reached a low of 1.0670, the lowest point since March.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
EUR/USD Forex Signal: 1.1650 is the Next Price to WatchThe EUR/USD pair was little changed on Monday amid low liquidity since US markets were closed for the Memorial Day weekend.
Baca lebih lajut »
EUR/USD Forex Signal: Bearish Forecast as Sell-Off IntensifiThe EUR/USD exchange rate retreated on Monday morning as the market reflected on the debt ceiling progress in the United States.
Baca lebih lajut »
EUR/USD Price Analysis: Extra pullbacks not ruled outEUR/USD keeps the bearish note well in place and keeps the trade near the key 1.0700 zone on Monday. The ongoing bearish development could force the p
Baca lebih lajut »
EUR/USD Price Analysis: Bears stay in the marker below trendline resiistanceEUR/USD bulls need to get on the back side of the trendline resistance with risk to 1.0850. Bears eye a break of recent lows for downside execution. E
Baca lebih lajut »
EUR/USD Price Analysis: Rebounds firmly from above 1.0700 as focus shifts to US EmploymentThe EUR/USD pair has shown a decent recovery after defending its immediate support around 1.0700 in the Asian session. A recovery move in the major cu
Baca lebih lajut »
EUR/USD Price Analysis: Upside mitigated above 1.0830EUR/USD manages to regain some buying interest soon after bottoming out in new 10-week lows near 1.0670 on turnaround Tuesday. The pair remains under
Baca lebih lajut »