Yesterday, the US Treasury yields fell, leading to a surge in stocks on Wall Street. This boost in risk sentiment further weakened the US Dollar. On Thursday, the US Producer Price Index report will be released, which could either confirm the soft inflation trend or reveal something unexpected.
Meanwhile, the European Commission is set to release its economic forecast and Industrial Production data for May, and the Eurogroup will have a meeting. In addition, the European Central Bank (ECB) will release the minutes of its latest meeting.
Considering recent market activity and the changing expectations of both the Fed and ECB, volatility is expected to remain high in the next session. This means that the pair could either see significant gains or experience major corrections, making it vulnerable to both scenarios.
Meanwhile, the European Commission is set to release its economic forecast and Industrial Production data for May, and the Eurogroup will have a meeting. In addition, the European Central Bank (ECB) will release the minutes of its latest meeting.
Considering recent market activity and the changing expectations of both the Fed and ECB, volatility is expected to remain high in the next session. This means that the pair could either see significant gains or experience major corrections, making it vulnerable to both scenarios.
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