The EUR/USD pair halted its recovery and finished the week with modest losses in the 1.0840 region, meeting sellers just ahead of the 1.0900 mark.
The FOMC meeting Minutes showed officials will keep waiting before cutting interest rates. A rate cut from the European Central Bank in June is pretty much priced in. EUR/USD bullish case could gain momentum once it clears the 1.0900 price zone. The US Dollar pushed higher for most of the week but was unable to post substantial gains, given speculation the Fed eral Reserve will delay rate cuts as much as it can.
What actually prevents the Euro from rallying against its American counterpart is the European Central Bank . ECB officials are aligned behind a June rate cut. There’s no discussion on that. Some members are a bit more cautious, referring to the need for data to confirm so. Others are more hawkish and pretty much grant the move. In fact, the focus has now shifted to July and whether the ECB will deliver a second rate cut by then.
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