EURUSD: BUY 1.1200, SL 1.1180 , TP 1.1300 | 15 May 2025

EURUSD:

The EUR/USD pair rose on Tuesday, recovering most of the losses from earlier in the week. The pair is currently retesting the 1.1200 mark thanks to a general weakening of the US Dollar in the broad market, rather than any particular bullish momentum in the Euro market.

Market reaction to the US Consumer Price Index (CPI) on Tuesday was mostly subdued. Investors remain optimistic that ongoing trade deal negotiations between the Trump administration and various parties will keep sentiment positive, although all trade tariff concessions offered by the Trump team were purely temporary in nature.

US CPI inflation fell slightly in April, hitting a new three-year low on an annualised basis for core inflation. However, the Trump administration's approach of imposing triple-digit tariffs on key trading partners is expected to start to have an impact as early as May, so market experts expect this to be the last strong CPI report for some time.

Also due for release on Thursday is pan-European gross domestic product (GDP) data for the first quarter, but average market forecasts expect the figures to be similar to the previous quarter.

In the US, the second half of the trading week is scheduled for the release of Producer Price Index (PPI) data and the latest consumer sentiment survey from the University of Michigan. On Thursday, the US PPI inflation data will be released, and on Friday, important consumer sentiment data will be released.

Trading recommendation: BUY 1.1200, SL 1.1180 , TP 1.1300

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