: EURUSD 2021-07-05 00:00

Time for some better hard data in Europe

EUR/USD remains fragile and the better-than-expected NFP headline number will keep open the possibility of a drop to 1.1700. Expect the FOMC minutes on Wednesday to have a big say in how low EUR/USD goes this coming week.
For the week ahead, the European data calendar is very light, with a focus on more investor confidence surveys (Sentix Monday, ZEW Tuesday) and on Wednesday the release of the European Commission’s summer forecast round. These presumably should see growth upgrades. Germany will on Wednesday see May industrial production – expected to rebound in line with the better sentiment indicators. Some improvement in the hard data could provide the euro with a little support.


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