- The dollar remains in negative territory with limited losses.
- EUR / USD rises again after Friday’s retracement.
EUR / USD is trading around 1.1880 having found support at the 1.1870 area. After the US data, it gained momentum and climbed to the 1.1890 area. Price routes remain limited, with low volatility while the dollar validates losses throughout the market.
US Manufacturing Data Against the Dollar
It was first known that the final reading of the manufacturing PMI for July stood at 63.4, revised up from 63.1. But then the manufacturing ISM showed an unexpected drop from 60.6 to 59.5, with the market consensus being 60.9. On Wednesday the report of factory orders will be published. The most important of the week will be the July employment to be published on Friday.
The dollar After the data, it fell back in the market, although later it managed to stabilize on several fronts but not against the yen or currencies linked to commodities.
The EUR / USD is still close to 1.1890 and if it goes above it will be ready to go test 1.1900 and possibly beyond. In the opposite direction, the 20-hour moving average is passing by 1.1870, so if it falls below, it could weaken, exposing Friday’s lows at 1.1850.
Technical levels
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