EUR/USD continued its upside run, tackling the 1.10 level but struggling with the highs and eventually closing close to levels seen in the previous week. The upcoming week features inflation numbers and more PMIs. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
Better than expected German manufacturing PMI helped the euro, and so did the better than expected German IFO business climate. Draghi repeated this regular messages and made an effort not to rock the boat. In the US, inflation beat expectations and so did new home sales. These and some hawkish comments halted the dollar’s dive, but the greenback still suffered from some weak data, namely durable goods orders.
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