EUR/USD could lose ground due to hawkish sentiment surrounding the Fed’s policy stance. Fed officials indicated the likelihood of the Fed maintaining the higher rates for a longer period. ECB may begin reducing borrowing costs as early as June. The US Dollar appreciates amid expectations of the Federal Reserve’s maintaining higher interest rates. Additionally, the higher US Treasury yields support for the US Dollar , undermining the EUR/USD pair.
This marked the most significant increase in retail activity since September 2022, suggesting strength in the European consumer sector. Furthermore, Retail Sales rose by 0.7% compared to the revised 0.5% drop in February, indicating the first growth in retail since September 2022 and signaling a positive shift in consumer spending trends. However, the European Central Bank is anticipated to initiate a reduction in borrowing costs starting in June.
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