LimitMarkets

EURUSD firmed at 38.20% Fibonacci

Short
FX:EURUSD   Euro / U.S. Dollar
The dollar holds steady against the euro at 38.20% Fibonacci. After the weak Eurozone data on June Industrial production, the pair could head back towards 1.1100 thresholds. The dollar found support in the trade headlines and inflation data. However, the expectations of Fed rate cuts still weigh on the greenback. Financial markets are certain the Fed will cut its benchmark rate in September. On Tuesday, Euro fell after the disappointing ZEW institute data on economic sentiment. In the week ahead, the US retail sales, industrial production and Building permits will be followed. On the other side, Eurostat will release data on Trade balance. The pair trades with the downside bias.

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