EURUSD: BUY 1.1675, SL 1.1630, TP 1.1750 | 27 Juni 2025
27 Juni 2025, EUR/USD
An event to watch today:
15:30 EET. USD - Gross Domestic Product
EURUSD:
The EUR/USD pair continues to rise to 1.1680 during Thursday's Asian session. The US dollar (USD) is weakening against the euro (EUR) as investors worry about the future independence of the US Federal Reserve (Fed). Final data on US GDP growth for the first quarter will be in focus later on Thursday.
US President Donald Trump said on Wednesday that he is considering three or four potential candidates to replace Fed Chairman Jerome Powell. According to the Wall Street Journal, Trump may consider former Fed Governor Kevin Warsh, National Economic Council Director Kevin Hassett, and Treasury Secretary Scott Bessent. Other candidates include former World Bank President David Malpass and Fed Governor Christopher Waller.
This raises questions about a potential weakening of the Fed's independence and a possible decline in its authority, which undermines the dollar and creates favorable conditions for the major currency pair.
Across the Atlantic, European Central Bank (ECB) policymakers are concerned about the economic outlook due to Trump's tariff policy and geopolitical risks. Earlier this week, ECB policymaker François Villeroy de Galhau said that despite current conditions, further rate cuts are still possible. Statements by ECB policymakers may put pressure on the single currency in the near term.
Trading recommendation: BUY 1.1675, SL 1.1630, TP 1.1750
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