EURUSD

Markets continue to be influenced by the "hawkish" message delivered by President Powell on Wednesday, lowering expectations for interest rate cuts this year to just one. This development remains the main theme exerting pressure on pairs, commodities, and risk assets while keeping the Dollar Index strong globally. The policy gap between the European Central Bank's initiation of interest rate cuts and the Fed's tight stance continues to be the main dynamic for currency pairs. Technically, the pair maintains a weak outlook by trading below the pivot level of 1.14851. As long as it remains below this level, supports at 1.14700 and 1.14303 may come into play. In potential recoveries after the data, 1.14851 should be monitored as the first resistance.