In the Asian session on Tuesday (June 13), EUR/USD rose slightly, temporarily reporting 1.0762, an increase of 0.02%. The European Central Bank will hold an interest rate decision on June 15, and dovish expectations put pressure on the euro.
The latest from the European Central Bank:
Institutional analysis predicts that the European Central Bank meeting may tend to be dovish. The recent surprise downturn in headline and core inflation in the euro zone, as well as mounting evidence that inflation momentum is slowing, will both influence the measures the ECB’s Governing Council will take this week, strategist Marquez said. . Overall, while a hawkish outcome cannot be ruled out, Barclays believes the risks at this week’s meeting are skewed toward dovishness, he said. As a result, the strategist believes there could be bullish price action in the euro zone in the near term as the interest rate curve steepens on the day of the meeting, although until then, price action will also be influenced by Tuesday’s U.S. CPI data and Wednesday’s Fed meeting .
