EURUSD continues to trade in range bound price action.
June 2024's US inflation dropped from 3.3% to 3.0% which is signalling that the Federal Reserve will cut interest rates in the near future. We will find out if this is the case on 31 July 2024.
If the Fed cuts rates, expect the USD to weaken which will allow for the EURUSD to gain some short - mid term strength.
Currently, the US dollar Index (DXY) is facing losses despite strong economic numbers. This gives the EURUSD the opportunity to further its gains.
EURUSD is well correlated with similar pairs such as GBPUSD which is also facing strong gains.
June 2024's US inflation dropped from 3.3% to 3.0% which is signalling that the Federal Reserve will cut interest rates in the near future. We will find out if this is the case on 31 July 2024.
If the Fed cuts rates, expect the USD to weaken which will allow for the EURUSD to gain some short - mid term strength.
Currently, the US dollar Index (DXY) is facing losses despite strong economic numbers. This gives the EURUSD the opportunity to further its gains.
EURUSD is well correlated with similar pairs such as GBPUSD which is also facing strong gains.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.