Economists at Deutsche Bank forecast that EUR/USD could reach 1.10 by the end of June 2023. They also see potential for a more restrictive eurozone monetary policy stance than currently priced in, especially in 20231. Recent statements from ECB President Christine Lagarde and economic data have supported the strengthening of the euro, which has recovered from a two-month low2.
On the other hand, the dollar has suffered its worst daily loss in nearly a month due to U.S. manufacturing data and comments by Federal Reserve officials, which reinforced expectations that the Federal Reserve will likely skip an interest rate hike at its upcoming meeting2.
In terms of upcoming economic data, there are a number of releases for both USD and EUR that could impact the EUR/USD exchange rate in the coming weeks. Some of these include the Services PMI Index, Factory Orders, ISM Non-Manufacturing Prices Index, Trade Balance, Initial Jobless Claims for the USD3, and Unemployment Rate, GDP, Retail Sales, Wholesale Price Index, CPI, Industrial Production, Capital Account Balance, Financial Account Balance, Current Account Balance, Imports, Trade Balance for the EUR4.
On the other hand, the dollar has suffered its worst daily loss in nearly a month due to U.S. manufacturing data and comments by Federal Reserve officials, which reinforced expectations that the Federal Reserve will likely skip an interest rate hike at its upcoming meeting2.
In terms of upcoming economic data, there are a number of releases for both USD and EUR that could impact the EUR/USD exchange rate in the coming weeks. Some of these include the Services PMI Index, Factory Orders, ISM Non-Manufacturing Prices Index, Trade Balance, Initial Jobless Claims for the USD3, and Unemployment Rate, GDP, Retail Sales, Wholesale Price Index, CPI, Industrial Production, Capital Account Balance, Financial Account Balance, Current Account Balance, Imports, Trade Balance for the EUR4.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.