Euro: Seen drifting toward 1.1400 against US Dollar – BBH
Germany's final Harmonized Index of Consumer Prices for May remains at 2.7% YoY: What it means for EUR/USD?
EUR/USD Price Forecast: Needs to break above 20-day for sustained recovery
EUR/USD Price Forecast: Rises towards 1.1600 but RSI remains bearish
As the trading week approaches its close, one of the main short-term developments is the euro's loss of momentum. This is reflected in EUR/USD price action, with the pair down around -0.2% on the day and moving back toward the 1.15 area.
Our last projection for EURUSD still stands as the pair reached a high of 1.1577 two days ago. The euro fell below the triangle support, which may lead to further downside.
Euro: Limited upside against US Dollar on fully priced ECB – ING
Euro: Downside risk against US Dollar as ECB hikes – BBH
Euro: Testing support against US Dollar with ECB risk – Societe Generale
The ECB is widely expected to raise rates by 25 basis points to 2.25% as it continues to battle inflation. Eurozone inflation rose to 3.2% in May, while core inflation, which strips out food and energy prices, remained elevated at 2.5%.
On 11 June, the ECB is holding the second day of its Governing Council meeting. The interest rate decision will be announced at 14:15 CET, followed by a press conference by Christine Lagarde at 14:45 CET.
Euro: Downside risk capped by 1.1500 against US Dollar – UOB