The single currency remains depressed during the second half of the week, taking EUR/USD to the area of 1.0750/40, or daily lows.
EUR/USD focus on German CPI
The pair is posting losses for the third session in a row so far today, extending the rejection from fresh 2017 tops just above 1.0900 the figure seen on Monday.
The persistent pick up in the demand for the greenback plus recent comments by ECB officials talking down the March statement has been weighing on sentiment and prompted spot to shed more than a cent in the last three sessions.
The buck has found support in auspicious results from the US docket along with supportive Fedspeak. In fact, Boston Fed E.Rosengren (2019 voter, hawkish) said on Wednesday he now expects the Fed to raise rates four times this year, although he stressed that such scenario still hinges on incoming data.
In the data space, German advanced inflation figures for the current month are due later seconded by EMU’s confidence/sentiment gauges. Across the pond, the third revision of Q4 US GDP is due along with the usual weekly report on the US labour market.
In addition, speeches by New York Fed W.Dudley (permanent voter, centrist), Cleveland Fed L.Mester (2018 voter, hawkish), Dallas Fed R.Kaplan (voter, hawkish) and San Francisco Fed J.Williams (2018 voter, hawkish) are all expected to keep the attention on the buck.
EUR/USD levels to watch
At the moment the pair is losing 0.09% at 1.0755 facing the immediate support at 1.0738 (low Mar.29) ahead of 1.0709 (20-day sma) and finally 1.0704 (low Mar.16). On the flip side, a break above 1.0827 (high Mar.29) would target 1.0874 (200-day sma) en route to 1.0905 (high Mar.27).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.