EURUSD could be about to reach a new 2024 low
EURUSD remains bearish below 1.0620, with traders likely targeting further downside.
Last week's U.S. inflation rose to 2.6% annually, which is too high, with core inflation steady at 3.3%. Jobless claims dropped to the lowest since May, with initial claims falling by 4,000 to 217,000, indicating a resilient labour market. Both data points reduced the chances of a Fed rate cut next month, adding pressure to EURUSD.
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Last week's U.S. inflation rose to 2.6% annually, which is too high, with core inflation steady at 3.3%. Jobless claims dropped to the lowest since May, with initial claims falling by 4,000 to 217,000, indicating a resilient labour market. Both data points reduced the chances of a Fed rate cut next month, adding pressure to EURUSD.
This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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