Bullish sentiment EUR/USD | 15 5月 2024

15 5月 2024, EUR/USD

Bullish sentiment EUR/USD

Event to watch out for today:

12:00 GMT+3. EUR - GDP Volume Change

15:30 GMT+3. USD - Consumer Price Index

EURUSD:

The Euro-dollar pair is trading with a bullish bias around 1.0815 in the early hours of Asian trading on Wednesday. Later, markets may shift to cautious sentiment ahead of key economic data releases from the Eurozone and the US. Wednesday's highlights will be the first reading of the Eurozone's first quarter gross domestic product (GDP) and the April US consumer price index (CPI).

On Tuesday, Federal Reserve (Fed) Chairman Jerome Powell said inflation is falling more slowly than expected and the CPI data gave more reason to keep rates higher. Powell added that he believes it is unlikely that the central bank will need to raise interest rates further, even if there is less chance of a rate cut. In addition, Kansas City Fed President Jeffrey Schmid said inflation remains too high and the U.S. central bank still has a lot of work to do. These hawkish comments could boost the US Dollar (USD) and put pressure on the major pair in the near term.

However, later in the day, US CPI data is due to be released, which could influence the Fed's interest rate decision at the next meeting. Annual core CPI inflation is expected to fall to 3.4% in April from 3.5% in the previous reading. Core CPI inflation is projected to fall to 3.6% in April from 3.8% previously. If the upcoming CPI data meets expectations, it could lead to the prospect of a rate cut. This, in turn, could lead to a decline in the dollar and serve as a tailwind for EUR/USD.

Trading recommendation: Trade predominantly on Buy from the current price level.

Up to $20 for each lot in real money - get a guaranteed income by connecting Cashback promotion!

David Johnson
Analyst of «FreshForex» company
同意该评论吗?
交易员的评论:
Close
授权
您浏览器禁用cookie 文件. 在此情况下, 私人空间显示不正常. 如何启动cookie 文件的支持.
manager photo manager photo
Online-support
我们很高兴回答您的问题

提交申请

Get bonus