The euro dropped about 200 points the day before because of progress in U.S.-China trade talks, but it went up yesterday as a reaction to that fall. During New York trading hours, U.S. inflation data for April was lower than expected. This caused the dollar to weaken, and the euro rose from around 1.1100 to 1.1190.
The price moved up and down quickly, showing that the market is still nervous.
The U.S.-China talks were successful, but trade talks between the U.S. and the European Union (EU) are expected to be more difficult. The EU has responded with higher tariffs, while U.S. President Trump has made deals only with countries that are more cooperative, like the U.K.
After this short recovery, the euro may start falling again.
EUR/USD Forecast Range: 1.1130 – 1.1220
Note: This information does not guarantee profit. Please make your own decisions when trading.