Yesterday’s European Central Bank (ECB) meeting notes said that ‘interest rates are mostly in a neutral area’ and ‘keeping rates at the current level gives more time to watch trade negotiations.’
This made people think that the rate-cutting phase may be ending soon.
Also, as US long-term interest rates went down, the euro rose to 1.1697.
If today’s German job data or Consumer Price Index (CPI) are stronger than expected, the euro may try to rise higher.
However, because of political worries in France and the Netherlands, the upside is limited, and the euro is likely to stay in a narrow range for now.
Expected Euro-Dollar Range: 1.1640 – 1.1740 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.