The EUR/USD pair attracts some sellers to near 1.1375 during the Asian session on Tuesday. The Euro weakens against the Greenback amid rising expectations of further rate cuts from the European Central Bank in June and mixed signals on US-China trade relations.
The EUR/USD pair hovers around 1.1350 on Monday, extending its consolidative phase for a second consecutive day. At least, investors pared US Dollar (USD) selling and recovered some optimism amid hopes of easing trade war tensions.
Additionally, the latest comments from United States (US) Federal Reserve (Fed) officials were tilted to the dovish side. Such comments suggest officials are less concerned about a possible economic setback or higher inflation, and somehow helped the USD instead of hurting it.
Meanwhile, the lack of relevant macroeconomic news and upcoming first-tier events limit the EUR/USD intraday range. During the upcoming days, the US and the Eurozone will release updates on inflation, employment and growth, with most figures out on Wednesday, as most countries celebrate labor day on Thursday and markets will remain closed.
Meanwhile, Wall Street holds on to last week's gains and posts a modest intraday advance, reflecting the better, but cautious mood.
Source: Fxstreet
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