💱 EUR/USD dips below 1.1700: is a reversal on the horizon?
U.S. inflation data rattles currency markets
The euro-dollar pair has slipped below 1.1700 today following mixed U.S. PCE inflation data. Core PCE for April came in at 2.6% YoY—slightly under expectations—while the headline PCE hit 2.3%, raising questions about the Federal Reserve’s next move .
Macro pressures and technical cues: euro under pressure
The dollar finds some strength, but optimism is cautious: ongoing trade tensions and weak Eurozone figures, such as German retail sales, weigh on the euro. On the technical side, a daily close below 1.1350 could open the door to 1.1300 or the 20-day moving average around 1.1270, reinforcing the bearish bias.