EUR

Both the EURUSD and GBPUSD bounce off hourly MA levels. Can the momentum continue?

• The EURUSD and GBPUSD bounce off respective hourly MA levels

Germany July wholesale price index +0.3% vs -0.3% m/m prior

• Latest data released by Destatis - 12 August 2024

UBS expect EUR/USD to gradually rise as US exceptionalism ebbs

• Fed cuts on the way

Italy July final CPI +1.3% vs +1.3% y/y prelim

• Latest data released by Istat - 9 August 2024

Germany July final CPI +2.3% vs +2.3% y/y prelim

• Latest data released by Destatis - 9 August 2024

ICYMI - Ex-ECB Constancio says September rate cut only a 50-50 chance - inflation concern

The European indices close mostly lower with the German DAX bucking the trend.

• European stock markets see mixed results: Germany's DAX up, France CAC and UK FTSE 100 down, Spain's Ibex and Italy's FTSE MIB decline

EUR/USD pulled lower by stronger US dollar

• Euro falls below 1.09

EURUSD Technical Analysis – The Euro strengthens on US Dollar weakness

• The EURUSD pair shot higher for 200 pips following the weak US NFP report. What’s next?

France June trade balance -€6.09 billion vs -€7.99 billion prior

• Latest data released by the French MOF - 7 August 2024

Germany June industrial production +1.4% vs +1.0% m/m expected

• Latest data released by Destatis - 7 August 2024

Germany June trade balance €20.4 billion vs €23.5 billion expected

• Latest data released by Destatis - 7 August 2024

Eurozone June retail sales -0.3% vs -0.1% m/m expected

• Latest data released by Eurostat - 6 August 2024

Germany July construction PMI 40.0 vs 39.7 prior

• Latest data released by HCOB - 6 August 2024

Germany June industrial orders +3.9% vs +0.5% m/m expected

• Latest data released by Destatis - 6 August 2024