Ella 
EUR/USD recovered its losses on Tuesday, rebounding above the 1.0800 mark in late US trading and stabilizing around 1.0820. EUR/USD will usher in intensive economic data on Wednesday, with the release of European gross domestic product (GDO) and US consumer price index (CPI) inflation data.
The U.S. Producer Price Index (PPI) data released on Tuesday was basically in line with expectations. The core producer price index annual rate was 2.4%. However, this data showed that after the previous value was revised down to 2.1% from the initial 2.4%, prices have recently declined. rebounded.
More information U.S. PPI inflation rises to 2.2% annual rate in April, in line with expectations
The results of the Eurozone ZEW Economic Sentiment Survey in May showed a cautious rise in consumer sentiment, which helped boost the euro. The ZEW Economic Sentiment Survey reported that the ZEW Economic Sentiment Index rose to 47.0 from 43.9 last month, above expectations of 46.1. The survey reached its highest level since February 2022.
On Wednesday, Europe’s first-quarter GDP growth is expected to be 0.3%. Annualized GDP is also expected to hold steady at 0.4%.
U.S. inflation was expected to hold steady on a monthly basis at 0.4% on Wednesday, with the annual rate expected to fall to 3.4% in April from 3.5% previously. Core inflation is in focus, with the annual rate expected to fall to 3.6% from the previous reading of 3.8%. U.S. retail sales are also expected to cool slightly, with retail sales expected to rise 0.4% monthly in April from 0.7% in the previous month.
