- The pair moves higher as risk appetite mood improves.
- The greenback loses momentum and retreat to the 96.80 region.
- Final manufacturing PMIs, Sentix index next on tap in Euroland.
The better tone in the risk-associated space is now lifting EUR/USD to the area pf fresh daily highs in the 1.1375/80 band.
EUR/USD higher post G20, looks to data
Spot opened with a gap higher at the beginning of the week following the optimism sparked by the Trump-Xi meeting at the G20 event over the weekend.
In fact, US and China clinched a 90-day truce, which prevent further increase in tariffs or the imposition of new US tariffs to Chinese products. During the truce, negotiations are expected to continue in order to come to a permanent agreement.
In the meantime, the pair managed to leave behind recent tops in the boundaries of 1.1300 the figure and is now looking to a potential new visit to the 1.1400 neighbourhood.
In the calendar, final manufacturing PMIs in Euroland are due along with the Sentix index. Across the pond, the ISM Manufacturing will be the salient event ahead of speeches by FOMC’s Clarida, Quarles, Williams and Brainard.
EUR/USD levels to watch
At the moment, the pair is up 0.49% at 1.1373 and a breakout of 1.1401 (high Nov.29) would target 1.1434 (high Nov.22) en route to 1.1473 (high Nov.20). On the flip side, the next support emerges at 1.1267 (low Nov.28) followed by 1.1214 (2018 low Nov.12) and finally 1.1188 (61.8% Fibo of the 2017-2018 rally).
Share
