EUR/USD rebound pauses around 1.0750, German inflation, US employment clues eyed – by anilpanchal7 EURUSD ECB Fed Inflation Politics
r snapping a five-day downtrend. That said, the Euro pair cheered the US Dollar’s pullback from the multi-day high the previous day but depicts the market’s cautious mood ahead of the top-tier data/events scheduled for publishing today. rose to the highest levels since mid-March on Tuesday before snapping a five-day uptrend, as well as positing the biggest daily loss since April 19, while closing the North American trading session around 104.05.
That said, the US Conference Board's Consumer Confidence Index edged lower to 102.30 for May from an upwardly revised 103.70 prior marked in April . Additional details of the survey report mentioned that the one-year consumer inflation expectations ticked down to 6.1% in May from 6.2% in April. Further, US House Price Index rose 0.6% MoM versus 0.2% expected and 0.7% prior whereas the S&P/Case-Shiller Home Price Indices dropped to -1.1% YoY in March versus 0.4% prior and -1.
Elsewhere, Republican representative Chip Roy said McCarthy should pull the debt ceiling bill, per Reuters, which in turn raises challenges for the US debt ceiling deal as it heads to the Republican-controlled Senate for voting.
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