The EUR/USD pair held within familiar levels throughout the first half of the day, with the Euro showing resilience to the broad US Dollar’s strength ahead of the release of the United States (US) preliminary estimate of the Q2 Gross Domestic Product (GDP).
EUR/USD Current price: 1.0848 The United States Q2 Gross Domestic Product resulted better than anticipated. Financial markets trapped between dismal earning reports and upbeat American data. EUR/USD keeps battling for direction around 1.0850, sentiment leads the way.
Less relevant, the US reported that Initial Jobless Claims for the week ended July 19 hit 235K, better than anticipated, while Durable Goods Orders in June plummeted by 6.6%. The overall encouraging news initially backed the USD, yet at the same time, helped stock markets trimm part of their early losses, somehow limiting demand for the Greenback. EUR/USD short-term technical outlook The EUR/USD pair posts modest intraday gains, battling to extend gains beyond the 1.0850 region.
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