EUR USD withdrawals from rise
8/31/2016 10:55:22 AM
The break in the USD rally has permitted EUR/USD to improve to overnight tops near 1.1155, though it has lost some motivation since then. Since trying three week lows in the surrounding area of 1.1130 on Tuesday, spot has been able to reclaim some traction and is now navigating the 1.1160 band as the upside momentum in the dollar appears to be taking a breather. Very remarkable day ahead for the pair, as Germany will issue its Retail Sales and employment figures, followed by progressed EMU’s inflation figures for the month of August. Across the pond, the ADP report will be the noticeable event today seconded by Pending Home Sales. The pair is now up 0.04% at 1.1150 facing the next hurdle at 1.1195 followed by 1.1365 and finally 1.1435. On the other hand, a break below 1.1130 would aim 1.1120 en route to 1.1045.
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