EUR/USD Current price: 1.0746 Fed eral Reserve’s speakers in the spotlight in the absence of relevant data. European Central Bank officials continue to anticipate a potential rate cut in June. EUR/USD trades within limited intraday ranges, but lower lows suggest mounting selling interest. The hawkish tone of the Fed eral Reserve was far from a surprise, but it seems speculative interest finally reconciled itself with the idea of higher for longer interest rates and was left clueless.
The ECB had a Non-Monetary Policy Meeting early on Wednesday, while Germany published March Industrial Production, which fell 0.4% YoY, better than the 0.6% slide anticipated by market participants. The American session will bring the United States March Wholesale Inventories and several speeches from Fed officials. EUR/USD short-term technical outlook The EUR/USD pair is biased lower, although the momentum is absent.
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