EUR/USD is making a move to the upside, trading around 1.1180. It recovered from the lows of 1.1138. More importantly, the pair is above the 1.1160 level it seemed to have lost. Earlier this week, EUR/USD reached new 7-month highs by edging closer to 1.13. That was driven by weak US inflation data. However, this latest attempt was stalled at 1.1295 and the pair dropped sharply after the Fed made its hawkish hike. As the dust settles from the Fed storm, we get some European data. Inflation was confirmed at 1.4% for CPI and 0.9% for Core CPI in the month of May. While this wasn’t a surprise, euro-zone inflation is not deteriorating beyond what was known. Another positive development comes from Greece. The debt-stricken country will receive 8.5 billion euros from its creditors, with the money basically going to pay back those same creditors. This Greek crisis has been away from the headlines. In any case, nothing of substance is expected until after the German elections. More: EUR/USD: Staying Tactically Short on perfect USD liquidity storm – Danske Can EUR/USD continue higher? The US dollar has been the driver this week, with weak data, an optimistic central bank and also new trouble for the president. Donald Trump is under investigation for obstruction of justice. The next moves could come from fresh economic figures from the US: building permits, housing starts and perhaps most importantly consumer confidence. In addition, keep an eye open for political developments, although these have had a limited effect of late. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next The beginning of a softer Brexit? GBP/USD recovers Yohay Elam 6 years EUR/USD is making a move to the upside, trading around 1.1180. It recovered from the lows of 1.1138. More importantly, the pair is above the 1.1160 level it seemed to have lost. Earlier this week, EUR/USD reached new 7-month highs by edging closer to 1.13. That was driven by weak US inflation data. However, this latest attempt was stalled at 1.1295 and the pair dropped sharply after the Fed made its hawkish hike. As the dust settles from the Fed storm, we get some European data. Inflation was confirmed at 1.4% for CPI and 0.9% for Core CPI in the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
