{"id":102794,"date":"2020-08-05T03:49:27","date_gmt":"2020-08-05T07:49:27","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=102794"},"modified":"2020-08-05T06:03:41","modified_gmt":"2020-08-05T10:03:41","slug":"103767-eur-usd-moving-up-as-dollar-weakness-continues","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103767-eur-usd-moving-up-as-dollar-weakness-continues\/","title":{"rendered":"EUR\/USD Moving Up As Dollar Weakness Continues"},"content":{"rendered":"<ul>\n<li><span style=\"font-weight: 400;\">Euro strengthens against the dollar after a brief pullback<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Dollar struggles with growth concerns and fiscal impass<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Market eyes Final Eurozone Services PMI, ADP report and the US ISM PMI<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The EUR\/USD pair has now managed to shrug-off the start-of-the-week weakness and managed to attract buyers; bouncing back from below 1.1700 levels on Monday, it had climbed up further on Tuesday.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The up-move was helped by the continued weakness in the US dollar, despite the US ISM Manufacturing PMI beating expectations; subdued hopes of a US economic recovery checked bullishness in the greenback.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The congressional impasse over the US fiscal stimulus and the recent drop in the treasury-bond yields also cut the long positions in the US dollar.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The US lawmakers had failed to agree on the details of a new coronavirus relief package despite the earlier unemployment benefit expiring last Friday. Whitehouse and congressional Democrats are working around the clock to nail-a-deal before the end of this week, reports suggest. It is also important to note that the US Treasury Secretary Steven Mnuchin hinted that the deal, if any, would be much less than 3.4 trillion dollars sought by the Democrats.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">EUR\/USD is trading higher today in the Asian session, around 1.1800 marks. Traders will be eyeing the Final Eurozone Services PMI for further clarity; later, in the US trading hours, the ADP report on private-sector employment and ISM Non-Manufacturing PMI will help to set the tone for the pair.<\/span><\/p>\n<div class=\"su-box su-box-style-default\" id=\"\" style=\"border-color:#000061;border-radius:3px;max-width:none\"><div class=\"su-box-title\" style=\"background-color:#071894;color:#FFFFFF;border-top-left-radius:1px;border-top-right-radius:1px\">USD Index Today - last 180 days<\/div><div class=\"su-box-content su-u-clearfix su-u-trim\" style=\"border-bottom-left-radius:1px;border-bottom-right-radius:1px\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/a8538a9bff2dc02dff4e1fea1c61c518.png\" alt=\"\" width=\"800\" height=\"348\" class=\"aligncenter size-full wp-image-102809\" srcset=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/a8538a9bff2dc02dff4e1fea1c61c518.png 800w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/a8538a9bff2dc02dff4e1fea1c61c518-300x131.png 300w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/a8538a9bff2dc02dff4e1fea1c61c518-768x334.png 768w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/a8538a9bff2dc02dff4e1fea1c61c518-696x303.png 696w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<div style=\"font-size: 75%; line-height: 1.5;\"><div class=\"su-expand su-expand-collapsed su-expand-link-style-default no-margin\" data-height=\"0\"><div class=\"su-expand-content su-u-trim\" style=\"color:#333333;max-height:0px;overflow:hidden\">Currency Index charts show the <strong>strength of a single currency<\/strong> based on a basket of foreign currencies. This is done using a weighted mean (an average) of the 5 largest routes from that source currency and their daily FX rates. You can explore <a style=\"color:#0088FF\" href=\"\/exchange-rate\/\">live exchange rates here<\/a>.<\/div><div class=\"su-expand-link su-expand-link-more\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">What does this show? <\/span><\/a><\/div><div class=\"su-expand-link su-expand-link-less\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">Show less<\/span><\/a><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Euro strengthens against the dollar after a brief pullback Dollar struggles with growth concerns and fiscal impass Market eyes Final Eurozone Services PMI, ADP report and the US ISM PMI The EUR\/USD pair has now managed to shrug-off the start-of-the-week weakness and managed to attract buyers; bouncing back from below 1.1700 levels on Monday, it [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":5611,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[],"class_list":{"0":"post-102794","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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