The EUR/USD pair spent most of the week within familiar levels, partially due to the lack of relevant macroeconomic data throughout the first half of the week and partly amid comments from different Federal Reserve (Fed) officials.
The European Central Bank will meet on Thursday, and rate cuts are priced in. The focus in the United States will be on employment data ahead of the Nonfarm Payrolls report. The EUR/USD pair's long-term perspective turned neutral after spending three weeks below 1.0900. The EUR/USD pair spent most of the week within familiar levels, partially due to the lack of relevant macroeconomic data throughout the first half of the week and partly amid comments from different Federal Reserve officials.
The following movements will depend on ECB President Christine Lagarde's words and policymakers' views, as reflected by the accompanying statement. Whatever they anticipate for the future, or not, could determine the Euro’s trend for the next week. The Fed, however, will meet just one week later, on June 12, which means speculative interest will quickly move into building expectations for such even after the ECB’s decision is made.
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