German factory orders will draw investor interest on Thursday (June 6). However, the main event will be the ECB monetary policy decision and press conference.
The markets are betting on a 25-basis point rate cut. However, uncertainty lingers about post-June policy goals, putting the Lagarde press conference in focus. A hawkish ECB interest rate cut could fuel buyer demand for the EUR as sentiment toward the Eurozone economy improves.
On Friday (June 7), German industrial production and Eurozone GDP numbers complete a pivotal week for the EUR/USD.
The Pound
Finalized manufacturing and services sector PMIs could influence buyer demand for the Pound on Monday and Wednesday. Revisions to the S&P Global CIPS UK Services PMI may impact the GBP/USD more. The services sector accounts for over 70% of the UK economy.
The BRC Retail Sales Monitor (June 4) and house price data (June…
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