US Dollar (USD) problems are keeping EUR/USD bid, ING's FX analyst Chris Turner notes.
Above 1.1425, EUR to run up to 1.1500
"This despite the fact that the European Central Bank will very likely be cutting rates on Thursday, and this week's inflation data in the eurozone should come in on the soft side. Here, the flash May eurozone CPI is released tomorrow, where core is expected to drop back to 2.5% year-on-year."
"Also on Thursday will be a meeting of NATO defence ministers in Brussels. The European representatives should be better prepared for further excoriating remarks from the US, and may refocus market attention on the planned big pick-up in defence spending. Additionally, some further colour on German fiscal expansion in late June should also prove euro supportive."
"EUR/USD has some intra-day resistance at 1.1425, above which a short-term run-up to 1.1500 beckons."
Reprinted from FXStreet_id，the copyright all reserved by the original author.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now