The post EUR/USD pinned into low end below 1.0700 once again appeared on BitcoinEthereumNews.com.

EUR/USD flubs the 1.0700 handle as bearish flows keep the Fiber pinned. Broad-market sentiment favored the Greenback on Wednesday as rate cut hopes dry up. Late-week key data prints to drive market momentum after an easy start to the week. EUR/USD backslid into the 1.0680 region on Wednesday after the German GfK Consumer Confidence Survey for July ticked lower unexpectedly, and a lack of meaningful data during the American trading session left investors to chew on a cautious Federal Reserve (Fed) stance this week that saw rate cut bets shift lower. Forex Today: Investors look at US PCE and French elections German consumer confidence backslid to -21.8 for July, missing the forecast recovery to -18.9 from the previous month’s revised -21.0. Despite a slow and steady recovery in the German GfK Consumer Confidence Survey, Wednesday’s downside print kicked the legs out from beneath the already-battered Euro. US New Home Sales Change in May clocked in a -11.3% decline MoM on Wednesday, compared to the previous month’s 2.0%, revised sharply from the initial print of -4.7%. Confidence survey releases continue through Thursday, with pan-EU Business Climate, Consumer Confidence, and Economic Sentiment Indicator data points all slated for release during the European market window. US Durable Goods Orders, revisions to first-quarter Gross Domestic Product (GDP), and weekly Initial Jobless Claims will follow during Thursday’s American trading session. US QoQ GDP is expected to tick upward slightly to 1.4% from the initial print of 1.3%, while May’s US Durable Goods Orders are expected to print a -0.1% contraction compared to the previous month’s revised 0.6%. US Initial Jobless Claims for the week ended June 21 are expected to tick slightly lower to 236K from the previous 238K, but the figure is expected to come in above the four-week average of 232.75K. US Core…

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Filed under: News - @ June 27, 2024 4:24 am