US Inflation Jumps, Rate Cut Expectations Pared Back Sharply
US interest rate cut expectations continue to be pushed back into Q3 after the latest US CPI report showed inflation refusing to move lower. A rate cut at the June FOMC meeting looks highly unlikely, while a move at the July meeting is only partially priced in. Markets are also predicting just two 25-basis point rate cuts this year. This re-pricing has seen the US dollar rally sharply, while US Treasury yields hit multi-month highs.
from the technical side:
The price may consolidate within the bearish zone if it remains below 1.07070, a key weekly support level, potentially guiding EURUSD towards 1.05050.
Conversely, a favorable geopolitical climate could catalyze a reversal, stabilizing the price above 1.07070, which would bolster EURUSD’s ascent to 1.0880 and subsequently, 1.0992.
Pivot Price: 1.07070
Resistance prices: 1.0880 & 1.0992 & 1.1043
Support prices: 1.0510 & 1.0395 & 1.0300
The movement range will be between the support 1.0510 and the resistance 1.0770
Tendency: Looks Bearish
previous idea:
US interest rate cut expectations continue to be pushed back into Q3 after the latest US CPI report showed inflation refusing to move lower. A rate cut at the June FOMC meeting looks highly unlikely, while a move at the July meeting is only partially priced in. Markets are also predicting just two 25-basis point rate cuts this year. This re-pricing has seen the US dollar rally sharply, while US Treasury yields hit multi-month highs.
from the technical side:
The price may consolidate within the bearish zone if it remains below 1.07070, a key weekly support level, potentially guiding EURUSD towards 1.05050.
Conversely, a favorable geopolitical climate could catalyze a reversal, stabilizing the price above 1.07070, which would bolster EURUSD’s ascent to 1.0880 and subsequently, 1.0992.
Pivot Price: 1.07070
Resistance prices: 1.0880 & 1.0992 & 1.1043
Support prices: 1.0510 & 1.0395 & 1.0300
The movement range will be between the support 1.0510 and the resistance 1.0770
Tendency: Looks Bearish
previous idea:
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