EURUSD

The PMI data released in Germany last week came in below expectations, under the 50.0 threshold, confirming the slowdown in economic activity. The upcoming German CPI data and the US GDP growth data on Wednesday will be closely watched. While the ECB is expected to cut rates by 25 basis points in June, the Fed is not expected to change rates but has a 55% chance of making a cut in June. In the short term, it seems likely that buying in EUR/USD will continue, and the psychological resistance at 1.1500 will be tested.