EUR/USD Surges on Fed’s Shocking July Cut Hint—Is This the Market’s Game-Changer You’ve Been Waiting For?
Wall Street ended the session on a higher note, as investors cheered comments by Waller, who favors a rate cut in July. Despite this, recent comments by Chicago Fed President Austan Goolsbee showed that he has moderated his dovish stance, stating that he’s wary due to the latest CPI report, which shows the first signs of tariffs pushing up goods inflation.
In the data front, the University of Michigan (UoM) Consumer Sentiment in July showed that households grew optimistic about their financial situation and also expect inflation to edge lower. Aside from this, housing data also showed signs of improvement, as the European economic docket remained scarce, with investors seeking cues about a trade agreement between the European Union (EU) and the United States (US).
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