A snapshot of Thursday's forex market trends, including the U.S. dollar's rebound, Eurozone inflation data, and Bitcoin's price movement.
The US Dollar may rise at the expense of the Euro if Eurozone inflation data misses estimates and fuels ECB rate cut bets and expectations of quantitative easing being reintroduced.
German inflation managed to pick up but inflation and growth in the Euro area continue to be under strain. EURUSD awaits key US data for direction.
The initial May Eurozone inflation report us due on Tuesday, June 4 at 09:00 GMT.
The EURUSD has pushed past the 1.1140 resistance line but traders will be eyeing German CPI and US PCE Core figures to strengthen their position. Worries about a recession have pushed long-term government yields around the world to the lowest level in years