EURUSD exhibited signs of slight fatigue. Overview for 13.05.2024

The primary currency pair came to a halt on Monday. The current EURUSD exchange rate stands at 1.0770.

The US dollar seems somewhat weary, while the currency market has intermittent risk appetite.

All attention is currently focused on the US Federal Reserve interest rates. Last week, there were signals that the interest rate might remain elevated for an extended period, briefly supporting the USD position.

The University of Michigan consumer sentiment index dropped to 68.8 points in May from the previous 79.0 points, falling short of the forecast. The economy is slowing down, prompting the Federal Reserve to consider this signal.

This week, the release of US inflation data, retail sales, and industrial production will be crucial. These data points will provide insights into the actual developments in the US economy. If the figures surprisingly show a decrease, the US dollar will face an even more challenging situation.