EUR/USD rises further to one-week highs near 1.1750

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  • Euro extends gains across the board during the American session.
  • EUR/USD up for the second day in a row, continues to rebound from monthly lows.

The EUR/USD pair is rising again on Tuesday, as it continues to recover after falling last week to 1.1611, the lowest level since late July. Recently it climbed to 1.1743, the strongest level in a week. It is trading near the top, with an intraday bullish tone intact.

The US dollar is showing weakness with the DXY trading at six days low under 94.00. Lower US yields appear to be weighing on the greenback. The US 10-year fell to 0.645%, the weakest since September 4.

Attention in the US is on politics. The first presidential debate between Trump and Biden will take place on Wednesday at 01:00 GMT (Tuesday night in the US). Also, it was reported that US Treasury Secretary Mnuchin and House Speaker Pelosi will speak on Wednesday, on new stimulus.

Economic data from the US showed a larger than expected increase in Consumer Confidence. In Germany, inflation fell more than expected in September according to preliminary data. Those economic numbers had little to no impact on markets.

The euro is among the top performers among the G10 space. It is rising particularly against the pound. The EUR/GBP cross rose toward 0.9150, moving away from the weekly lows it hit on Monday.

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