EURUSD: Good signals in the time of economic instability!
Updated
The EUR/USD pair starts the week on a positive note, moving away from a one-week high below mid-1.0800s. Spot prices trade around 1.0900 during the Asian session. The US Dollar struggles to capitalize on its recovery gains and faces some supply on Monday. Business activity in the US fell to a three-month low in June, according to S&P Global. Services growth eased for the first time this year, and the manufacturing sector contracted further. This, along with a slight decrease in US Treasury bond yields and a positive tone in US equity futures, weakens the safe-haven Greenback.
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EUR/USD approaches 1.1000 amid hawkish ECB talks, focus on Fed Chair Powell, Lagarde’s speechEUR/USD bulls take a breather around 1.0960 after posting the biggest daily gain in a week during a two-day run-up. The Euro pair cheered the hawkish commentary from the European Central Bank (ECB) officials the previous day while paying little heed to the upbeat US data.
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