- EUR/USD couldn’t sustain early gains to 1.1830.
- Eurozone Q2 GDP contracts by 12.1 Percent QoQ
- US Retail Sales, Industrial Production, U-Mich today
The Thursday top of 1.1870 in the EUR/USD might hold as the weekly top; the pair came under selling pressure to trade around 1.1800.
EUR/USD Eyes Data, Dollar Strength
The weekly recovery in the EUR/USD, following three-day advances, might have topped near Thursday highs around 1.1865/70 band.
The US political impasse is now in focus more than the coronavirus progress and economic recovery elsewhere.
In the euro area, Q2 GDP was shown as contracting by 12.1 Percent QoQ during the three months ended in June, and 15 Percent on an annualized basis. Employment change might contract 2.8 Percent QoQ during the same period.
The US Retail Sales will be in focus later, and the markets expect it to have expanded by two Percent month-on-month. Industrial/Manufacturing Production, Capacity Utilization and the flash gauge of the U-Mich index are also due today.