- A modest USD pullback helped the pair to regain traction on Friday.
- Hotter-than-expected flash Euro-zone core CPI remained supportive.
- US economic data eyed for some impetus ahead of Trump-Xi meeting.
The EUR/USD pair held on to its positive tone, with bulls eyeing a follow-through momentum beyond the 1.1400 handle post-Euro-zone inflation figures.
A modest US Dollar pullback, amid nervousness ahead of the US President Donald Trump’s meeting with his Chinese counterpart Xi Jinping, triggered the initial leg of an uptick on the last trading day of the week.
Adding to this, the flash version of the Euro-zone inflation figures, showing that the core rate is estimated to have risen by 1.1% yearly rate in June as compared to 1.0% expected further underpinned the shared currency.
Meanwhile, the headline CPI came in line with market expectations and is anticipated to have risen by 1.2% yearly rate during the reported month, though failed to assist the pair to break through the weekly trading range.
Moving ahead, Friday’s US economic docket – highlighting the release of Core PCE price index, Chicago PMI and revised UoM Consumer Sentiment index, will now be looked upon for some short-term trading opportunities.
Technical levels to watch
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