{"id":320798,"date":"2024-06-11T04:53:07","date_gmt":"2024-06-10T23:23:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=320798"},"modified":"2024-06-11T04:53:07","modified_gmt":"2024-06-10T23:23:07","slug":"eur-usd-looks-for-balance-after-off-kilter-wobble-us-cpi-and-fed-projections-loom-ahead-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eur-usd-looks-for-balance-after-off-kilter-wobble-us-cpi-and-fed-projections-loom-ahead-crypto-news\/","title":{"rendered":"EUR\/USD looks for balance after off-kilter wobble, US CPI and Fed projections loom ahead &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>EUR\/USD extended into a two-day tumble as Greenback resurges.<\/strong><\/li>\n<li><strong>Thin economic calendar on Tuesday leaves the way open for Fed fears.<\/strong><\/li>\n<li><strong>Markets to look for signs of Fed weakness heading into midweek inflation print.<\/strong><\/li>\n<\/ul>\n<p>EUR\/USD trimmed into the low side after a steep correction extended from Friday through Monday, dragging the pair down -1.57% peak-to-trough and the Fiber is once again testing bids near 1.0750.<\/p>\n<p>EU Parliamentary elections hobbled the Euro heading into the new trading week as bumpy parliament shuffling poses a near-term risk for policymaking, weighing heavily on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/eurusd\" data-fxs-autoanchor=\"\">the Euro<\/a>. A thin calendar on the EU side except for Final German Harmonized Index of Consumer Prices (HICP) figures early Wednesday leaves the Fiber exposed as broader markets pivot to face the upcoming <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\" data-fxs-autoanchor=\"\">Federal Reserve<\/a> (Fed) rate call and an update to the Fed\u2019s own dot plot summary of interest rate projections.<\/p>\n<p>According to the CME\u2019s FedWatch Tool, rate markets are pricing in a 51% chance that the Fed will hold on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/rates\" data-fxs-autoanchor=\"\">rates<\/a> in September after rate cut hopes were knocked firmly back last week. With the Fed\u2019s upcoming update to its \u201cdot plot\u201d of interest rate expectations on the docket this Wednesday, investors will be racing to see what Fed policymakers expect looking forward.<\/p>\n<p>Wednesday also brings an update to US Consumer <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\" data-fxs-autoanchor=\"\">Price Index<\/a> (CPI) inflation. Median market forecasts expect headline CPI inflation to cool to 0.1% MoM, with Core CPI Inflation expected to tick down to 3.5% from 3.6% YoY.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/USD technical outlook<\/h2>\n<p>The Fiber is stuck in near 1.0770 after a steep decline from Friday\u2019s action near 1.0900. An overextended decline through near-term consolidation, and a bidding rebound could pare back losses back above the 1.0800 handle.<\/p>\n<p>A two-day backslide has dragged EUR\/USD back below the 200-day Exponential Moving Average (EMA) at 1.0806, and near-term corrections will run aground of descending trendlines from 2024\u2019s peak bids near 1.1140.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/USD hourly chart<\/h2>\n<h2 class=\"fxs_headline_medium\">EUR\/USD daily chart<img decoding=\"async\" alt=\"\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/EUR_USD-638536579988992731.png\" style=\"width: 1723px;height: 801px\" \/><\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>EUR\/USD extended into a two-day tumble as Greenback resurges. Thin economic calendar on Tuesday leaves the way open for Fed fears. Markets to look for signs of Fed weakness heading into midweek inflation print. EUR\/USD trimmed into the low side after a steep correction extended from Friday through Monday, dragging the pair down -1.57% peak-to-trough [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":10851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,842,257,433,366,255,250,252,247,253,249,256,254],"class_list":["post-320798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cpi","tag-cryptocurrency","tag-eurusd","tag-fed","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/320798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=320798"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/320798\/revisions"}],"predecessor-version":[{"id":320802,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/320798\/revisions\/320802"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/10851"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=320798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=320798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=320798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}