EUR/USD Surges Nearly 1% This Week—Could Trade Optimism Outsmart Weak US Data and Rewrite Market Rules?
You ever wonder how a currency pair like the EUR/USD can dance in tandem with the whispers of trade deals and central bank moves? Well, buckle up, because this week’s action has been nothing short of a financial thriller. The EUR/USD got a nice little lift on the back of hopeful signs that the US and the EU might just ink a deal before that looming August 1 deadline – talk about timing! Meanwhile, US Durable Goods Orders showed a bit of weakness, but strong jobless claims threw a curveball, keeping everyone on their toes about whether the Fed will hold steady in their upcoming policy meeting on July 30. And let’s not forget the ECB—playing its cards close to the chest, holding rates steady and shifting focus to what next week’s Fed decision might have in store. It’s a high-stakes balancing act, and the EUR/USD is right there navigating the waves. Ready to dive deeper into the twists and turns behind these moves? LEARN MORE
- EUR/USD boosted by signs of imminent US–EU deal ahead of August 1 deadline.
- US Durable Goods Orders miss, but jobless claims stay strong, supporting Fed hold expectations.
- ECB holds rates steady; next week’s focus shifts to key Fed policy decision on July 30.
The EUR/USD finished the week up by nearly 1% on Friday, yet ended the daily session flat, following economic data from the United States (US) that was worse than expected, but offset by positive trade news. With the Greenback cutting losses, the pair trades at 1.1741 virtually unchanged.
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