EUR/USD stays defensive around 1.0700 ahead of Eurozone PMIs, Fed Minutes – by anilpanchal7 EURUSD PMI Fed GDP ECB
US holiday, light calendar on Monday restrict immediate moves.Geopolitical headlines, hawkish central banks weigh on sentiment and underpin US Dollar strength.
In addition to the hawkish ECB comments, the US Dollar’s corrective pullback also allowed the EUR/USD pair to portray a bounce off the six-week low the previous day. and Retail Sales followed the previously flashed upbeat readings of employment and output data and propelled the odds of the US economy witnessing more inflation ahead. The same joins hawkish Federal Reserve comments to underpin the firmer US Treasury bond yields and the US Dollar to exert downside pressure on the EUR/USD price.
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