During yesterday’s New York session, the euro rose to 1.0437 after President Trump said he plans to ask for immediate interest rate cuts. However, since he also suggested cutting rates worldwide, the euro lost momentum and could not reach the previous high of 1.0457.
Today, PMI data from Europe and Germany will be released. If concerns about Europe’s slowing economy grow compared to the strong U.S. economy, the euro may face more selling pressure.
EUR/USD Expected Range: 1.0467–1.0350
Note: The above content does not guarantee profits. Please make your own decisions when trading.