The EUR/USD pair extends its downside to near five-month low around 1.0660 in Friday’s European session.
EUR/USD slumps to 1.0660 as ECB rate cut bets for June strengthen. The US Dollar strengthens as the Fed is anticipated to start reducing interest rates later this year. Investors shift focus to the US Retail Sales data that will be published on Monday. The major currency pair falls sharply on firm speculation that the European Central bank will begin reducing interest rates from the June meeting. The ECB kept its key borrowing rates unchanged on Thursday at 4.
Meanwhile, the market sentiment is downbeat as traders pare big bets leaning to Federal Reserve beginning to reduce interest rates from the June meeting. S&P 500 futures have posted losses in the European session. 10-year US Treasury yields falls slightly after refreshing more than four-month high near 4.60%. The US Dollar Index , which tracks the US Dollar’s value against six major currencies, jumps to near five-month high around 106.00.
ECB Fed Inflation Riskaversion
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Stumbles as ECB Official Calls for Two Rate Cuts Before the SummerWell-known dove, Yannis Stournaras called for not one, but two rate cuts before the summer break, contrasting with the overall ECB stance to follow the Fed
Read more »
EUR/USD awaits US data, ECB speakersEUR/USD continues trading in the mid 1.0900s after pulling back from a peak at 1.0981 achieved last week.
Read more »
Euro’s Outlook Turns Bearish After ECB Decision, Setups on EUR/USD, EUR/GBPThe prospect of the ECB starting its easing cycle before the Fed and the Bank of England and delivering more rate cuts than both institutions this year may put downward pressure on the euro against the U.S. dollar and sterling in the near term.
Read more »
ECB Leaves Rates Unchanged, Rate Cut Looms, EUR/USD Steady Ahead of Press ConferenceThe European Central Bank left all three official rates unchanged as expected. Traders are now focusing on the press conference for any clues on when the ECB will start cutting rates
Read more »
EUR/USD remains vulnerable below 1.0750 after ECB keeps key borrowing rates steadyThe EUR/USD pair falls further to 1.0720 in Thursday’s early New York session after the European Central Bank (ECB) decided to hold its Main Refinancing Operations Rate steady at 4.5%.
Read more »
EUR/USD Forecast: Euro could target new 2024 lows on a dovish ECB toneEUR/USD came under heavy bearish pressure and registered its largest one-day loss of 2024 on Wednesday, losing over 1%.
Read more »