The US dollar may prove resilient ahead of the crucial PCE inflation data, while EUR/USD seeks catalysts and USD/JPY maintains its uptrend. Traders eye German and EU inflation figures for guidance
Do you know the difference between investing and trading? Because while the goal might seem the same, they're very different thing...US Dollar May Prove Hard to Breakdown Ahead of PCE, the Major CatalystRisk events for the coming week are skewed towards the middle and latter stages of the week. On Wednesday inflation data out of Germany is likely to inform what the broader EU data is likely to serve up on Friday as inflation in the eurozone appears to be moving in the right direction.
Should inflation within the eurozone continue to weaken, starting with figures out of Germany, the euro may come under some pressure midweek. The pair may continue to ease into the June ECB meeting as a strong majority of ECB officials have communicated a preference for a 25 basis point cut next month.
During a week with fewer high-profile US economic data releases, the dollar was widely anticipated to recover, catering to the market's inclination towards higher-yielding currencies in periods of reduced volatility.Less than a month since Japanese officials were believed to have intervened in the foreign exchange market, the USD/JPY exchange rate has once again approached the 160 level, which initially triggered their response.
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