Euro Stalls Despite ECB Rate Cut Bets

The Euro (EUR) is trading sideways near 1.0770 against the US Dollar (USD) on Monday, lacking direction in the absence of major Eurozone economic data

The Euro (EUR) is trading sideways near 1.0770 against the US Dollar (USD) on Monday, lacking direction in the absence of major Eurozone economic data this week.

ECB Policy Bets in Focus: The European Central Bank’s (ECB) potential shift towards policy normalization at its June meeting is a key factor for the Euro.
ECB Divided on Further Rate Cuts: While some policymakers advocate for extending rate cuts beyond June to address inflation, others believe the recent economic rebound weakens the case for further cuts.
Technical Analysis: Sideways Consolidation
- EUR/USD remains above the 20-day EMA (Exponential Moving Average), suggesting some upside potential.
- The Symmetrical Triangle pattern on the daily chart indicates a period of consolidation and potential breakout in either direction.

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