EUR/USD appears offered below the 1.0700 mark ahead of data EURUSD Currencies Majors
Flash PMIs, ZEW Economic Sentiment next of note in the region.back to the 1.0670/60 region on Tuesday.EUR/USD extends the pessimism seen at the beginning of the week and trades slightly on the defensive on Tuesday on the back of the mild recovery in the greenback, as US markets return to the usual activity following Monday’s holiday.
In the US, advanced Manufacturing and Services PMIs are due followed by Existing Home Sales and a 3-month/6-month Bill Auctions.EUR/USD loses further traction amidst the tepid bounce in the greenback on Tuesday, while the release of key results from fundamentals on both sides of the ocean are expected to grab all the attention.
Back to the euro area, recession concerns now appear to have dwindled, which at the same time remain an important driver sustaining the ongoing recovery in the single currency as well as the hawkish narrative from the ECB.
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