EUR/USD Current price: 1.0685 The US Q1 Gross Domestic Product missed expectations, triggering risk aversion. The yield on the 2-year Treasury note surged beyond 5.0%. EUR/USD is on its way to retesting the year low at 1.0600. The EUR/USD pair surged to 1.0729 during European trading hours, retaining gains and developing above the 1.0700 threshold ahead of the critical United States Gross Domestic Product report.
Inflation concerns are back on the table, and that could delay the Federal Reserve’s decision to go for rate cuts despite tepid growth. Bad news all over the place. EUR/USD short-term technical outlook The EUR/USD pair trades around 1.0690 and keeps pressuring intraday lows, in line with another leg south. The daily chart shows the pair met sellers around a mildly bearish 20 Simple Moving Average , which maintains its firmly bearish slope below the longer ones.
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Source: FXStreetNews - 🏆 14. / 72 Read more »