EURUSD remains at a local minimum. Overview for 11.06.2024

The primary currency pair appears sluggish on Tuesday. The current EURUSD exchange rate stands at 1.0767.

The EURUSD pair is hovering near a one-month low amid anticipation of the Federal Reserve meeting outcomes and fresh US inflation statistics release for May. The Federal Reserve meeting starts today and will conclude Wednesday evening with a decision on the interest rate.

Yesterday, the US dollar received additional support from the debt market as government bond yields increased.

The official consumer price index is anticipated to decrease to 0.1% m/m in May from the previous 0.3%. Core inflation may remain at 0.3% m/m.

This specific Federal Reserve meeting is expected to conclude neutrally, with no changes in the monetary policy structure. However, officials will likely update economic forecasts and provide more precise guidance regarding the trajectory of interest rates.