EurUsd Short
Updated
EUR/USD rose 0.1% to 1.0874, ahead of the release of the June consumer price index for the eurozone as a whole.
This is expected to fall to 5.6% in June from 6.1% in May, but German consumer prices rose by much more than expected in June, and this creates the possibility of an upside surprise given the dominance of the German economy.
European Central Bank President Christine Lagarde has largely cemented expectations earlier this week for a ninth consecutive rise in interest rates in July, and this hawkish tone is set to prompt gains of roughly 1.7% for the euro against the dollar this month.
This is expected to fall to 5.6% in June from 6.1% in May, but German consumer prices rose by much more than expected in June, and this creates the possibility of an upside surprise given the dominance of the German economy.
European Central Bank President Christine Lagarde has largely cemented expectations earlier this week for a ninth consecutive rise in interest rates in July, and this hawkish tone is set to prompt gains of roughly 1.7% for the euro against the dollar this month.
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