EUR/USD is trading under 1.32 once again. The pair bounced off low support and attempted a recovery. However, it was unable to close the gap, despite some weak US data. Today we have quite a few important US indicators.
 Here is a quick update on what’s moving the pair.
- EUR/USD recovered and reached 1.3214. It did not close the gap.
- Current range:Â 1.3175 to 1.3220.
Further levels in both directions:
- Below: 1.3175, 1.31 and 1.30.
- Above: 1.3220, 1.3295 and 1.3333
- 1.3175 is and old line but it proved strong.
- 1.3220 is the close on Friday.
EUR/USD Fundamentals
- 12:30 US Durable Goods Orders. Exp. +7.8%, core exp. +0.5%.Â
- 14:00 USÂ S&P/CS Composite-20 HPI. Exp. 8.2%.
- 14:00 US FHFA HPI. Exp. +0.3%.
- 14:00 US CB Consumer Confidence. Exp. 89.1 points. See how to trade the the event with GBP/USD.
*All times are GMT.
For more events and lines, see the EUR/USDEUR/USDEUR/USDEUR/USDEUR/USD.
EUR/USD Sentiment
- Jackson Hole fallout: Janet Yellen did her best not to rock the boat, and the lack of dovishness was dollar positive, following the trend seen after the not-too-dovish FOMC minutes. ECB president Mario Draghi certainly left the door open for more action, and QE certainly seem on the cards. He also asked governments to do more. This triggered the weekend gap.
- Somewhat disappointing US data this week:Â After strong numbers from the US on Thursday, we got some misses on Monday, with new home sales falling short. Today we have more important data.
- Eurozone PMIs soften, growth flattens: European PMIs were quite mixed, but they aren’t so good. It’s important to note that strong German PMIs in Q2 did not reflect the contraction that the country reported. So a weakening is even more worrying.
- Russia and Ukraine in the headlines: The Russian and Ukrainian presidents are meeting in Minsk, but expectations remain low after German Chancellor Angela Merkel downplayed them in recent statements. The sanctions and the ongoing tensions weigh on German business confidence.
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