EUR/USD looks slightly bid around 1.0700 ahead of EMU data – by pabspiovano EURUSD Currencies Majors
German 10-year bund yields climb further and target 2.50%.The single currency maintains the erratic performance in place so far this week and now motivatesEUR/USD faces extra consolidation near term
The absence of strong drivers for the pair’s price action continues to underpin the ongoing directionless pattern, although a more cautious trade is expected to emerge in light of the release of crucial US inflation figures and the FOMC event, both due next week. In the domestic calendar, another revision of the EMU Q1 GDP figures will be the only scheduled release, while weekly Initial Claims and Wholesale Inventories grab all the attention across the ocean.EUR/USD flirts with the key 1.0700 area amidst the generalized lack of clear direction in the global markets.
: Continuation of the ECB hiking cycle in June and July . Impact of the Russia-Ukraine war on the growth prospects and inflationSo far, the pair is up 0.13% at 1.0711 and the surpass of 1.0779 would target 1.0807 en route to 1.0879 . On the downside, initial support lines up at 1.0635 seconded by 1.0516 and finally 1.0481 .Information on these pages contains forward-looking statements that involve risks and uncertainties.
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