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EBC Daily Snapshot May 28, 2024

EBC Forex Snapshot 28 May 2024 The dollar waned on Tuesday following a slight increase in risk appetite, but it held tight ranges as the data-heavy week only began to unfold. Currency moves were largely subdued in early Asia hours. The euro firmed despite some dovish comments from ECB policymakers and data showing German business morale barely improved in May. Chief economist Philip Lane suggested a rate cut may occur in June. Eurozone inflation has now fallen close to the target of 2% and investors believe that leaves room for the central bank to cut its benchmark deposit rate earlier than its US peer. EBC Investment Strategy Report Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Financial Group or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Investment involves risk. The content of this report is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product.

Publication date:

2024-05-28 08:32:18 (GMT)

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