EUR/USD remains depressed below 1.1950 on firmer USD, German data eyed

  • EUR/USD struggles to hold onto the gains in the Asian session.
  • The Euro gains some ground on upbeat economic data.
  • Uptick in US treasury yields underpins the demand in the US dollar.

The buying interest in the US dollar keeps EUR/USD edgy on Thursday morning Asian’s session. After testing the high of 1.2263 in late May, the Euro lost the battle against the greenback. It breached the coveted 1.1900 mark and tested the lows of 1.8477 in the week.

At the time of writing, EUR/USD is trading at 1.1924, down 0.01% for the day.

The US 10 year benchmark yields trade at 1.49% with gains of 0.34%. The US Dollar Index (DXY) follows the treasury yields and stands strong at 91.82. Mixed comments from Fed’s official on inflation and interest rates outlook affects the greenback movement.

Atlanta Fed President Raphael Bostic said he expected interest rates to rise in late 2022 with surging economic growth at 7% and inflation above the Fed’s 2% target this year. Both Bostic and Fed Governor Michelle Bowman believed recent price pressure may take longer than anticipated for them to fade.

Meantime, US Treasury Secretary Janet Yellen on Wednesday warned Congress about the risk of debt default and a probable new financial crisis. The comments weigh on the sentiment of the US dollar.

In addition to that,  the US senators had reached a deal on the infrastructure spending bill and planned to discuss it with President Joe Biden today.

On the other hand, the shared currency gains were limited due to the attractive valuation of the USD. The upbeat domestic economic data holds the lower ground for the Euro.

The IHS Markit Eurozone Service PMI rose to 58.0 in June, well above the market forecast at 57.8. The Consumer Confidence Indicator gained 1.8 points, slightly higher than the market consensus at -3.0.

As for now, investors are glued to the release of a host of data in the US. Durable Goods Orders, Gross Domestic Product (GDP), and Initial Jobless Claim data. In the Eurozone, German IFO Business Climate data eyed to gauge the market sentiment

EUR/USD additional levels


Today last price 1.1924
Today Daily Change -0.0002
Today Daily Change % -0.02
Today daily open 1.1926
Daily SMA20 1.2099
Daily SMA50 1.2098
Daily SMA100 1.2031
Daily SMA200 1.1997
Previous Daily High 1.197
Previous Daily Low 1.1912
Previous Weekly High 1.2147
Previous Weekly Low 1.1847
Previous Monthly High 1.2266
Previous Monthly Low 1.1986
Daily Fibonacci 38.2% 1.1934
Daily Fibonacci 61.8% 1.1948
Daily Pivot Point S1 1.1902
Daily Pivot Point S2 1.1877
Daily Pivot Point S3 1.1843
Daily Pivot Point R1 1.196
Daily Pivot Point R2 1.1994
Daily Pivot Point R3 1.2019



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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD holds near mid-1.1600s after German IFO data

EUR/USD continues to trade in the positive territory around 1.1650 as investors don't seem to be paying much attention to the soft German IFO data. The dollar remains on the back foot but losses are limited by rising T-bond yields.


GBP/USD drops towards 1.3750 as dollar rebounds

GBP/USD is falling towards 1.3750, undermined by the US dollar bounce,  as the Treasury yields recover ground. UK's Frost hints at compromise on Northern Ireland’s post-Brexit trade rules. BOE-speak, China news in focus. 


XAU/USD looks north, with eyes on $1814 and $1820

Gold price eyes a sustained move above $1800 amid USD weakness. Market sentiment remains mixed ahead of a critical week.

Gold News

Crypto markets coil up for an explosive move

Bitcoin price correction seems to be holding above $60,000, but fear of an extended pullback persists. Ethereum price coils up between $3,900 and $4,200, preventing a retracement. Ripple price consolidates in a bullish pennant, suggesting a 26% ascent is likely.

Read more

Wall Street Week Ahead: Huge week of earnings ahead AAPL, MSFT, GOOGL, AMZN, FB

Equity markets remain elevated with more all-time highs on Thursday for the broader S&P 500 while the Dow registered new highs on Wednesday and Thursday. So far late into Friday's session, the markets are seeing some profit-taking to end a solid week.

Read more