- Euro goes into negative territory for the day against the dollar, cutting bullish streak.
- US data is not surprising and has limited impact on the market.
The EUR / USD is holding on to significant weekly gains although in recent hours it has retraced from the recent peak and returned below 1.1900. The euro is snapping a five-day streak with gains against the dollar.
The greenback has managed to regain some of the ground lost against the main European currencies and the yen, although in general it is still on the defensive. US data for personal income and spending, consumer confidence and Chicago PMI did not have much impact on the market.
The moderate decline in Treasury yields may be limited dollar upward correction, which in any case is gaining momentum with the running of the American session. EUR / USD has returned below 1.1880 and is trading at 1.1873 lows for the day, although still more than a hundred pips above its week-ago level.
The euro could not be favored by the growth data of the Eurozone, which exceeded expectations. EUR / GBP remained in the recent range, below 30 pips, while EUR / CHF continued to decline.
Technical levels
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