Eur usd latest news

Here are the latest news and updates on the EUR/USD currency pair:

Current Rate: 1.1235 (as of 14:30 GMT)

Recent News:

1. ECB's Lagarde: Eurozone economy to recover slowly: European Central Bank (ECB) President Christine Lagarde said that the eurozone economy is expected to recover slowly from the COVID-19 pandemic, citing ongoing supply chain disruptions and labor shortages.
2. US Jobless Claims rise to 770,000: The number of Americans filing for unemployment benefits rose to 770,000 last week, exceeding expectations and indicating a slow recovery in the labor market.
3. German GDP contracts 0.1% in Q2: Germany's economy contracted by 0.1% in the second quarter, according to preliminary data from the Federal Statistical Office (Destatis), marking the first decline since the pandemic began.
4. US-China trade tensions ease: The US and China have reached a tentative agreement to ease trade tensions, with the US delaying tariffs on $250 billion worth of Chinese goods and China agreeing to increase its purchases of US agricultural products.
5. EUR/USD Technical Analysis: The EUR/USD pair is trading within a narrow range, with the 1.1200 level acting as support and the 1.1300 level serving as resistance. A break above 1.1300 could lead to further gains, while a drop below 1.1200 could trigger a decline to 1.1100.

Economic Calendar:

• Monday:
  • US: ISM Manufacturing PMI (August)
  • Germany: ZEW Economic Sentiment (August)
• Tuesday:
  • US: ADP Employment Report (August)
  • Germany: Industrial Production (July)
• Wednesday:
  • US: FOMC Meeting Minutes (July)
  • Eurozone: Consumer Price Index (August)
• Thursday:
  • US: Initial Jobless Claims (August 21)
  • Germany: Retail Sales (July)

Market Sentiment:

• The EUR/USD pair is trading in a neutral range, with no clear direction.
• The US dollar is slightly stronger against the euro, driven by the improving US economic outlook and the potential for further interest rate hikes.
• The euro is being supported by the ECB's accommodative monetary policy and the region's gradual economic recovery.

Trading Recommendations:

• Buy EUR/USD at 1.1200 with a target of 1.1300.
• Sell EUR/USD at 1.1300 with a target of 1.1200.
• Avoid trading during the FOMC meeting minutes on Wednesday, as the market may be highly volatile.

Please note that these are just general market updates and not personalized trading advice. It's always important to do your own research and consider your own risk tolerance before making any trading decisions.