Currently EUR/USD is sitting just above the 200-day sma, which is positioned close to 1.19. How treasury yields react to this week’s supply and to key US data releases will undoubtedly provide direction for the USD in the near-term, Jane Foley, Senior FX Strategist at Rabobank, briefs. The release of US March CPI inflation data is scheduled on Tuesday “CPI inflation is also set to push higher in March, with the Bloomberg consensus for the headline number standing at 2.5% YoY. Headline data will be lifted by stronger commodity processes led by energy. The Fed is likely to continue referring to this strength as transitory. However, a strong print may re-invigorate inflation fears and lend support to the USD.” “Due to a second round of stimulus cheques, economists are expecting a healthy bounce for March retail sales. On the basis of the range of estimates for this release, there has to be reasonable risk of an upside surprise for retail sales which could feed support for the greenback in the coming days.” “On strong economic data/higher yields this week, we see scope for another test lower for EUR/USD.” “We expect EUR/USD to trade choppily in a 1.17 to 1.20 range in the months ahead.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NY Fed Survey: One-year median inflation expectations rise to 3.2%, highest since mid-2014 FX Street 2 years Currently EUR/USD is sitting just above the 200-day sma, which is positioned close to 1.19. How treasury yields react to this week's supply and to key US data releases will undoubtedly provide direction for the USD in the near-term, Jane Foley, Senior FX Strategist at Rabobank, briefs. The release of US March CPI inflation data is scheduled on Tuesday "CPI inflation is also set to push higher in March, with the Bloomberg consensus for the headline number standing at 2.5% YoY. Headline data will be lifted by stronger commodity processes led by energy. The Fed is likely to continue… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
