EUR/USD accelerates losses below 1.0700 ahead of data – by pabspiovano EURUSD Currencies Majors
The greenback appears well bid in new 2-month highs.The European currency remains well on the defensive and draggedEUR/USD loses ground for the sixth consecutive session on Tuesday and breaches the 1.0700 support for the first time since late March, always in response to the persevering march north in the dollar and a corrective move in the risk-associated space.
Data-wise in the euro area, the final European Commission’s Consumer Confidence is due along with Economic Sentiment and Industrial Sentiment. In the US, the Consumer Confidence gauge measured by the Conference Board will be in the limelight, followed by the FHFA’s House Price Index.The sell-off in EUR/USD appears unabated after the pair broke below the key support at 1.0700 the figure on Tuesday.
Moving forward, hawkish ECB speak continues to favour further rate hikes, although this view appears to be in contrast to some loss of momentum in economic fundamentals in the region.: EMU Final Consumer Confidence, Economic Sentiment, Industrial Sentiment – Germany Unemployment Change, Unemployment Rate, Flash Inflation Rate, ECB Lagarde – Germany Retail Sales/Final Manufacturing PMI, EMU Final Manufacturing PMI, Flash Inflation Rate, ECB Lagarde, ECB Accounts .
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