EUR/USD Stuck Within a Tight Range Around 1.1680

Thursday, 12 July 2018 15:47 WIB



The sentiment around the European currency remains depressed so far this week, with EUR/USD now navigating a narrow range between 1.1680 and 1.1660.

The pair remains on the defensive so far this week, prolonging the correction lower from Monday’s tops in the vicinity of 1.1800 the figure, although some contention appears to have emerged in the 1.1670/60 band for the time being.

On the other hand, the greenback keeps looking to the US-China trade dispute while it slowly continues its march higher to the area close to the critical resistance at the 95.00 handle.

In the data space, German final CPI figures for the month of June matched the preliminary readings. Later in the session, EMU’s Industrial Production figures for the month of May are due seconded by the ECB minutes.

The ECB event seems to have gathered some extra attention in light of yesterday’s news citing some dissent within the Council regarding the timing of the rate hike next year.

Source : FX Street




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