EURUSD Drops as Traders Eye U.S. Consumer Confidence Data
EURUSD slipped 0.69% to 1.1634, after touching a four-week high of 1.1742 on Friday.
Why the euro had support:
German business climate hit a 15-month high, signaling economic strength and boosting sentiment for eurozone growth.
Improved outlook reduces expectations for ECB rate cuts, making the euro more attractive.
Today’s focus:
U.S. CB Consumer Confidence report.
Strong data → delays Fed cuts → EUR/USD could dip below 1.1600.
Weak data → dollar softens → EUR/USD may climb above 1.1700.
EURUSD slipped 0.69% to 1.1634, after touching a four-week high of 1.1742 on Friday.
Why the euro had support:
German business climate hit a 15-month high, signaling economic strength and boosting sentiment for eurozone growth.
Improved outlook reduces expectations for ECB rate cuts, making the euro more attractive.
Today’s focus:
U.S. CB Consumer Confidence report.
Strong data → delays Fed cuts → EUR/USD could dip below 1.1600.
Weak data → dollar softens → EUR/USD may climb above 1.1700.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join me, I'll guide you to PROFITABLE TRADING💵!
Telegram Channel: t.me/forextradersliveofficial
Telegram Channel: t.me/forextradersliveofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.