This week, the primary factor influencing the Euro's price action will be the preliminary inflation data for the Eurozone for May, set to be released on Friday. This inflation data will offer fresh signals on whether the ECB will extend its rate cut policy into July. Before that, investors will be closely watching Germany's preliminary inflation figures for May, scheduled for release on Wednesday. Monthly headline inflation and harmonized inflation are expected to increase at a slower rate of 0.2%. Annual headline inflation is estimated to have risen to 2.7% from 2.4% in April.
Conclusion
The EUR/USD pair continues to gain strength due to the weakening USD and monetary policy expectations from the ECB. Inflation data and statements from ECB officials will be crucial in determining the direction of this currency pair in the coming week.
Conclusion
The EUR/USD pair continues to gain strength due to the weakening USD and monetary policy expectations from the ECB. Inflation data and statements from ECB officials will be crucial in determining the direction of this currency pair in the coming week.
Trade closed: target reached
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