The primary currency pair is heading downwards on Thursday. The current EURUSD exchange rate stands at 1.0823.
Overall, the market sentiment easily fits into consolidation as the decline does not appear agitated. Investors are conserving energy before new economic statistics from the US are released, particularly before tomorrow’s Core PCE report. This is the Federal Reserve’s favourite inflation indicator.
The general expectation is that the US Federal Reserve will cut interest rates three times this year, each by 25 basis points.
Simultaneously, the likelihood of an interest rate decrease by the European Central Bank in June is estimated at 81%, compared to a 64% probability for the Fed.
The main market movements are expected today because tomorrow is a public holiday in most Catholic countries for Good Friday.
Source: Roboforex
