The EUR/USD pair bounces back to 1.0850 in Monday’s early American session as appeal for risky assets improve.
EUR/USD recovers to 1.0850 as market sentiment turns cheerful. The ECB is expected to keep its Main Refinancing Operations Rate unchanged at 4.5% on Thursday. The next move in the US Dollar will be guided by the US Inflation data for March. Market sentiment is positive even though traders pare bets supporting Fed eral Reserve rate cuts, which were leaned for the June meeting. The S&P 500 futures open on a slightly positive note. 10-year US Treasury yields rose to four-month high near 4.
In the same period, the core CPI that strips off volatile food and Oil prices is estimated to have dipped slightly to 3.7% from 3.8%. Strong price pressures could keep hopes of rate cuts for June off the table, while soft figures could prompt speculation for the Fed pivoting to rate cuts in the same period. On the Eurozone front, investors shift focus to the European Central Bank’s interest rate decision, which will be announced on Thursday.
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