EUR/USD now focused on ECB The EUR/USD is advancing for the second session in a row on Wednesday, navigating weekly highs in the 1.1340 region, coincident with a Fibo retracement of the 2019 decline. Spot moves higher on the back of the continuation of the downside pressure in the greenback, always with rising speculations of a rate cut by the Fed at some point later in the year behind the leg lower. Friday’s poor US Payrolls and yesterday’s below-consensus producer prices have recently exacerbated this view. Today’s calendar in Euroland highlights the speeches by ECB’s Mario Dragui, Luis De Guindos and Benoit Coeure at the 8th ECB Conference on central, eastern and south-eastern European countries (CESEE), in Frankfurt. Across the pond, all eyes will be upon the release of May’s US inflation figures tracked by the CPI.