Technical Analysis
EURUSD have big potential to buy around 1.06757. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyers is weakening.
Fundamental Analysis
The Commerce Department on Friday will release its reading on the May personal consumption expenditures price index, the Fed’s preferred inflation gauge. Economists surveyed by Dow Jones expect a 12-month inflation rate of 2.6% on both the all-items and core, which excludes food and energy prices.
While that would represent a nudge lower from April, Bowman said she still expects the Fed to hold its key overnight borrowing rate in a range between 5.25%-5.50% “for some time.”
DISCLAIMER: The information on this analysis is based on research and experience, and it is not guaranteed to be accurate116:20