EUR/USD trades with a mild negative bias around 1.0950 in Tuesday’s early European session.
Fed’s Goolsbee said the central bank could take action if the economy deteriorated.
Traders await the Eurozone Retail Sales on Tuesday for fresh impetus, which is expected to ease to 0.1% YoY in June.

The EUR/USD pair trades with mild losses around 1.0950 during the early European trading hours on Tuesday. The improved risk sentiment provides some support to the Greenback and caps the major pair’s upside. Traders will take more cues from the release of Eurozone Retail Sales, which is expected to ease to 0.1% YoY in June.

The sell-off spread across the financial markets on Monday as investors were concerned about the recession in the US economy. This, in turn, dragged the US Dollar (USD) lower to the year-to-date lows near 102.15. However, a turnaround in the global risk sentiment alleviates some fears in the market. “Markets panicked after the U.S. employment report on Friday,” said Andrzej Szczepaniak, an economist at Nomura. Traders are now pricing in around 60% odds of emergency easing by the US Federal Reserve (Fed).

EUR/USD WEAKENS NEAR 1.0950 ON THE RECOVERY OF US DOLLAR, EYES ON EUROZONE RETAIL SALES DATA