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EUR/USD making a lower low for the year – FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained the EUR/USD has been the only pair unable to fill the weekly opening gap.

Key Quotes:

“Stuck around 1.3200, the pair has been trading a handful of pips either side of the level for most of the day, posting however a lower low for the year of 1.3183”.

“Data has disappointed both sides of the Atlantic, with German IFO survey showing another drop in confidence amongst Europeans, and US Services PMI posting a slower rise, down to 58.5 while New Home Sales unexpectedly fall to a 4 month low”.

“But with London closed on holiday, the pair was unable to react during European hours, and remained subdue in the US session”.

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