EURUSD is under pressure again. Overview for 07.06.2023
The market's most traded currency pair is moderately retreating on Wednesday. The current EURUSD quote is 1.0690.
The EUR felt some pressure following comments by Isabel Schnabel of the European Central Bank. She noted that an ECB rate hike might take longer than expected to have an impact on the economy. With the current skills shortage in the labour market, Schnabel said, we can expect the influence of the monetary policy on the economy to be weaker than usual.
Euro fans counted on the ECB's consistency and confidence in raising the interest rate. With comments of this nature appearing now, trust in the regulator has somewhat diminished, and this is reflected in the trajectory of the euro.
Today statistics will be as scarce as they were the day before. The US will release the consumer credit data for May in the afternoon. The index is expected to have dropped markedly after April.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.