EUR/USD to come under some pressure after US PCE figures – ING

FXStreet Insights Team FXStreet

EUR/USD remains trading around the 1.0850 mark. Economists at ING analyze the pair’s outlook.

CPI figures should not change the ECB narrative

French and German CPI numbers may not lead to much change in ECB communication.

We don’t expect today’s regional figures or Friday’s Eurozone-wide flash CPI estimate to justify a change in the ECB’s narrative at next week’s policy meeting.

The recent speech by ECB President Christine Lagarde at the EU Parliament confirmed that the ECB is still looking for more conclusive evidence before acting on sanguine disinflation expectations. That likely includes waiting for wage data for the first quarter, and we suspect the likelihood of a rate cut before the June meeting is low.

We expect some pressure on EUR/USD after US PCE figures today.

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD stays defensive below 1.3300 amid pre-Fed market caution

GBP/USD stays defensive near fresh July lows in the 1.3270 region on Tuesday. The pair struggles as the US Dollar (USD) sits at monthly highs amid market caution ahead of the two-day US Federal Reserve monetary policy meeting, while a sell-off in stocks fuels demand for the safe-haven currency.

EUR/USD hangs close to monthly lows near 1.1350 on USD strength

EUR/USD is consolidating near the monthly trough, trading near mid-1.1300s in the European morning on Tuesday, undermined by persistent US Dollar demand. Traders seem hesitant and await the outcome of a two-day FOMC policy meeting before placing aggressive directional bets.

Gold languishes near $4,000 ahead of FOMC decision

Gold (XAU/USD) maintains its offered tone through thef the European session on Tuesday and currently nears the $4,000 psychological level. This follows the previous day's failure to find acceptance above the $4,100 mark and suggests that the path of least resistance for the bullion remains to the downside amid a bullish US Dollar (USD) undertone.

Bitcoin slips below $64,000 as risk-off sentiment grips markets

Bitcoin (BTC) is extending its correction, trading below $64,000 at the time of writing on Tuesday after losses of over 2.5% the previous day. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) recording a mild outflow on Monday, marking three consecutive days of withdrawals.

Indian Rupee outlook: Downtrend set to persist – Just at a slower pace

The Indian Rupee just endured its most brutal six-month stretch in years, battered by a perfect storm of global shocks. From United States (US)-India trade uncertainty to surging Oil prices and the significant outflow of Foreign Institutional Investment (FII) from the Indian stock market, every event brought nothing but pain for the Indian currency.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.