EURUSD pair has been exceedingly choppy above the round-level resistance of 1.1200.
In the Asian session, the EURUSD pair has been exceedingly choppy above the round-level resistance of 1.1200. The main currency pair has moved sideways as investors await US Retail Sales (June) data for more direction.
The S&P500 futures have suffered some losses, indicating nervousness among market participants as the results season begins.
S&P500 futures have lost some ground in the Tokyo session. Indicating nervousness among market players as the second quarter earnings season begins. US shares were also under pressure on Friday. As EURUSD investors are concerned about corporate earnings. Earnings may continue erratic as the Federal Reserve .(Fed) tightens policy further and commercial banks tighten credit conditions to maintain asset quality.
The volatility of the US Dollar Index (DXY) has been squeezed as it formed a base just around 100.00. Following the publication of US Retail Sales data. The USD Index is predicted to offer a performance. According to the consensus monthly retail demand will grow at a faster rate of 0.5% than the previous release of 0.3%. Retail demand excluding autos is expected to increase by 0.3%. Compared to the previous estimate of 0.1%.
The EURUSD has gained exceptional strength since the ECB is projected to end its rate hiking cycle after July.
Meanwhile, the EURUSD has gained exceptional strength. Since the European Central Bank (ECB) is projected to end its rate-hiking cycle after July due to low inflation. The Eurozone is hotter. The shared continent’s headline inflation rate is 5.5%. While core inflation, which includes volatile oil and food prices, is 5.4%, both of which are over the intended goal of 2%.
According to Nordea analysts, the European Central Bank continues to regard additional tightening as needed. And another rise in July looks to be a done thing, although it will be the last in the current cycle.
