The US Dollar is facing significant pressure after disappointing consumer sentiment data and conflicting PMI figures raised speculation about potential Federal Reserve rate cuts in June. This combination of factors has contributed to the dollar hitting a new yearly low, despite ongoing concerns about persistent inflation which complicates the outlook further. In contrast, the Euro has gained strength following Germany's elections, where a conservatively led government is expected to foster a more positive economic outlook. Investors are now focusing on essential upcoming economic data such as the US Q4 GDP growth rate, with strong results vital for the dollar's recovery.
The US Dollar faced pressure due to poor Michigan Consumer Sentiment data and uncertainty around potential Federal Reserve rate cuts, reaching a new low this year.
Following Germany's elections, investor confidence in the Eurozone increased, likely underpinning a stronger Euro as markets await critical economic indicators.
Collection
[
|
...
]