EURUSD awaits the summit and economic data
After some intraday fluctuations, EURUSD was little changed in the end of the day on Thursday. Bullish attempts continue to attract sellers, which prevents the euro from breaking the 1.14 barrier. On the other hand, the pair remains above the 200-DMA, which is a positive technical signal, at least in the short term.
Market attention now shifts to the G20 summit in Japan, where the key point of focus will be meeting between US President Donald Trump and his counterpart Xi Jinping. The contradictory comments from this front make investors doubt in any progress between the two world’s largest economies. But the two leaders could at least lay the groundwork for resuming the trade talks, which could be positive for riskier assets including the euro.
Traders will also eye the US data including producer price index, personal income and spending, Michigan consumer confidence index. The pair will also react to the upcoming euro zone CPI report. Should the figures from the US disappoint, EURUSD could challenge the 1.14 handle once again but news from the summit will be in market focus.
Market attention now shifts to the G20 summit in Japan, where the key point of focus will be meeting between US President Donald Trump and his counterpart Xi Jinping. The contradictory comments from this front make investors doubt in any progress between the two world’s largest economies. But the two leaders could at least lay the groundwork for resuming the trade talks, which could be positive for riskier assets including the euro.
Traders will also eye the US data including producer price index, personal income and spending, Michigan consumer confidence index. The pair will also react to the upcoming euro zone CPI report. Should the figures from the US disappoint, EURUSD could challenge the 1.14 handle once again but news from the summit will be in market focus.
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