EUR/USD gains 0.50% and jumps to more than a two-week high near 1.0770 in Monday’s European session.
EUR/USD rises to near 1.0770 as the first round of France’s legislative elections showed the far-right dominance, but by a small margin. The US Dollar declines as the expected fall in the US core PCE boosts Fed rate cut bets. Investors await the preliminary German HICP and US ISM Manufacturing PMI for June.
3 In the PMI report, investors will also focus on other sub-components, such as the New Orders Index and Price Paid, which indicate the factory outlook and change in input prices of the manufacturing sector, respectively, and will provide cues about inflation expectations.
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