Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Jun 05 - 09:55 PM

EUR/USD - The Market Focus Will Be On The ECB's Outlook

By Andrew M Spencer  —  Jun 05 - 07:55 PM
  • Up 0.05% early after closing off 0.1% with the U.S. dollar up 0.15%

  • A 25pt ECB rate cut to 3.75% is priced in by markets, as inflation eases

  • Further cuts will be data-dependant with the policymaker's outlook cautious

  • The market focus will be on the ECB's outlook and the statement's tone

  • Charts - neutral momentum studies, as 21-day Bollinger bands contract

  • 5, 10, & 21-day moving averages climb - positive setup needs progress soon

  • 1.0842 21-day moving average and last week's 1.0788 base are initial support

  • 1.0892 New York high and 1.0912 upper 21-day Bollinger band first resistance

  • 1.0850/60 5.532 BLN, 1.0880 1.317 BLN, 1.0900 4524 BLN June 6 close strikes

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2024 eFXdata · All Rights Reserved
!