EURUSD InsightHello, subscribers!
Please share your personal opinions in the comments. Don't forget to like and subscribe!
Key Points
- France's preliminary CPI for March rose 0.8% YoY, falling short of the market expectation of 0.9%, while Spain's CPI increased 2.3% YoY, below the expected 2.7%, boosting expectations for an ECB rate cut.
- The U.S. Core PCE Price Index for February rose 0.4% MoM, exceeding the market forecast of 0.3%, and increased 2.8% YoY, surpassing the expected 2.7%.
- Concerns over stagflation, where inflation and economic stagnation occur simultaneously, have intensified. Additionally, the University of Michigan's final Consumer Sentiment Index for March recorded 57.0, the lowest since November 2022.
- The reciprocal tariffs announced by President Trump are set to take effect on April 2.
Key Economic Events This Week
+ March 31: Germany's March CPI
+ April 1: RBA interest rate decision, Eurozone March CPI
+ April 2: U.S. March ADP Nonfarm Employment Change
+ April 4: U.S. March Nonfarm Payrolls, U.S. March Unemployment Rate, Fed Chair Powell's speech
EURUSD Chart Analysis
The pair recently found support around the 1.07500 level and has slightly rebounded. Currently, it is forming around the 1.08500 level, and if no major variables arise, it is expected to rise toward 1.09500 in the short term.
In the mid-to-long term, the 1.11000 level remains open as a potential high, but for now, we will focus on whether 1.09500 is breached.
However, if unexpected variables cause the 1.07500 level to break, we will swiftly adjust our strategy.
