Euro keeps the trade above 1.1200 against the US Dollar.
Stocks in Europe trade with decent gains on Thursday.
EUR/USD clings to small gains just above the 1.1200 mark.
Producer Prices in Germany surprised to the upside in June.
US weekly Initial Jobless Claims, Philly Fed Index take centre stage.
The Euro (EUR) manages to regain some balance and advance modestly against the U.S. Dollar (USD) on Thursday, encouraging EUR/USD to regain the area just above 1.1200 the figure against the backdrop of vacillating risk appetite trends.
The recent recovery in the greenback now appears somewhat dented and leaves the USD Index (DXY) hovering around the low-100.00s amidst the so far mild rebound in US yields.
Moving forward, spot is expected to engage in some sort of consolidative range ahead of key meetings by the Federal Reserve and the European Central Bank (ECB) next week. Having said that, both central banks are widely anticipated to hike rates by a quarter point, although an incipient divergence between them lies in their plans for the near-term future.
On this, the Fed is perceived as nearing the end of its tightening cycle, while ECB officials have sounded less hawkish recently on the prospects of additional hikes beyond summer.
In the euro docket, Producer Prices in Germany contracted 0.3% MoM in June and rose 0.1% over the last twelve months. In addition, the Current Account surplus in the euro area widened to €9.1B in May. Later in the session, the European Commission will publish its flash gauge of Consumer Confidence in the region for the current month.
In the US, usual weekly Initial Jobless Claims are due in the first turn, followed by the Philly Fed Manufacturing Index, the CB Leading Index, and Existing Home Sales
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