Yesterday during Tokyo time, news said that the United States and China reached a trade agreement. Because of this, the US dollar became stronger and the euro went down to 1.1406.
Later during Europe time, President Trump said that the agreement will be completed when he and President Xi Jinping give final approval. This kept the euro from going up.
After that, the US May CPI (Consumer Price Index) was announced and it was lower than expected. Because of this, the US dollar became weak, and the euro rose to 1.1499. The euro finished at a high level.
Fears about tariffs became smaller, and inflation stayed under control. Because of this, people continued selling the US dollar.
Today, the US PPI (Producer Price Index) will be announced. If PPI shows no effect from tariffs, like CPI, the euro may go even higher. But even if the result is lower than expected, the euro is not likely to fall much because of worries about the US economy.
EUR/USD Forecast Range: 1.1450 – 1.1530
Note: The above information does not guarantee profit. Please make your own decisions when trading.