EUR/USD Weekly Forecast: The return of King Dollar

📆 12/04/2024 23.27.00

EURUSD Berita

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📆 12/04/2024 23.27.00
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The US Dollar (USD) soared this week, sending EUR/USD to its lowest since November.

The United States Consumer Price Index was higher than anticipated in March. The European Central Bank kept paving the way for a rate cut in June. EUR/USD bearish momentum points to a downward extension towards 1.0500. The US Dollar soared this week, sending EUR/USD to its lowest since November. Hotter-than-anticipated inflation in the United States was the main reason behind the renewed strength of the USD, although it was not the only one.

So, on the one hand, we have the Fed dealing with a healthy economy and in no rush to cut rates, and on the other, the ECB is trying to be optimistic even though local economies are barely looking to be out of the woods. Lagarde did not say it, but European policymakers are actually in a rush to trim rates and revive economic growth.

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