The next two days will see both the Federal Reserve (Fed) and the European Central Bank (ECB) announce their latest monetary policy decisions with markets fully expecting the Fed to pause its fourteen-month hiking cycle, while the ECB will hike rates by a further 25 basis points. Both these outcomes are fully expected and priced into the market, however post-decision commentary from both central banks will be key. Ahead of these two policy decisions, later today the May US inflation report is released with forecasters expecting price pressures in the US to ease, but not at a particularly quick rate. A miss of expectations, either way, today could give the US dollar a shot of volatility ahead of Wednesday’s FOMC decision
EUR/USD is testing a prior level of resistance just under 1.0800 ahead of today’s inflation report and today made a fresh two-week high. The pair will likely remain trapped in a small range ahead of US CPI, unless there is a large deviation from expectations, before settling into a holding pattern ahead of Wednesday’s FOMC decision.
EURUSD BUY 1.0795-1.0785 💯💯
✅𝖳𝖯1 1.0835
✅𝖳𝖯2 1.0885
🛑𝖲𝖫 1.0745
EUR/USD is testing a prior level of resistance just under 1.0800 ahead of today’s inflation report and today made a fresh two-week high. The pair will likely remain trapped in a small range ahead of US CPI, unless there is a large deviation from expectations, before settling into a holding pattern ahead of Wednesday’s FOMC decision.
EURUSD BUY 1.0795-1.0785 💯💯
✅𝖳𝖯1 1.0835
✅𝖳𝖯2 1.0885
🛑𝖲𝖫 1.0745
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