Ella 
EUR/USD retreated slightly on Thursday, back below 1.0880, as the greenback recouped losses seen at the start of the week. EUR/USD is still clearly up for the week, but the greenback may take a break later as investors remain skeptical of the Federal Reserve’s (Fed) stance on rate cuts and are maintaining positions on the safe-haven dollar for the time being.
Traders are pricing in a rate cut by the European Central Bank (ECB) in June. European Central Bank policymakers have been cautiously pushing markets lately, but Martins Kazak, a member of the ECB’s Governing Council and the governor of the Central Bank of Latvia, announced on Thursday that a rate cut in June is a certainty. The market will pay close attention to the Purchasing Managers Index (PMI) data released by the European Union and the United States next week.
