EUR/USD Weekly Forecast: FOMC Minutes and EU growth data under scrutiny

The EUR/USD pair surged to 1.1046 this week, surpassing its yearly opening by a couple of pips and settling a fresh 2024 high.

Softer-than-anticipated United States inflation figures boosted the market mood. European growth-related figures to indicate that the Union is not yet out of the woods. EUR/USD poised to extend its gains beyond the 1.1100 mark. The momentum faded and the US Dollar was able to recover some ground, yet as the weekend approaches, the pair trades with solid gains around the 1.1000 mark.

Germany published the ZEW Survey on Economic Sentiment, with the index edging sharply lower in the country and the EU. Even further, the assessment of the current situation worsened by more than anticipated. Also, the EU unveiled the second estimate of the Q2 Gross Domestic Product , which converged with the initial estimate, posting a modest 0.3% advance in the three months to June. Meanwhile, Industrial Production declined 0.1% MoM in June and slid 3.9% compared to a year earlier in June.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FXStreetNews /  🏆 14. in US

Recommended Growth Fed

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EUR/USD Weekly Forecast: US Dollar can turn bullish on upbeat growth and inflation dataThe EUR/USD pair halted its latest run and is closing the week unchanged, just below the 1.0900 mark.
Read more »

EUR/USD Weekly Forecast: Could the Federal Reserve pave the way for a September cut?The EUR/USD pair edged lower in the fourth week of July, trading marginally lower in the 1.0850 region ahead of the close.
Read more »

EUR/USD Weekly Forecast: US Dollar sell-off to continue amid mounting rate cut hopesThe EUR/USD pair fell to a fresh three-week low of 1.0776 on Thursday but managed to finish the week in the green above the 1.0900 threshold.
Read more »

EUR/USD Weekly Forecast: United States inflation and European growth coming nextThe EUR/USD pair ended the week as it started, trading a handful of pips above the 1.0900 mark.
Read more »

EUR/USD jitters after Fed rate hold, FOMC press conference in viewEUR/USD is churning chart paper near 1.0800 after the Federal Reserve (Fed) struck a notably measured tone regarding interest rates on Wednesday.
Read more »

Weekly forex analysis: EUR/USD, GBP/USD, AUD/USD and more [Video]Weekly forex forecast covers forecast on EUR/USD , GBP/USD , AUD/USD , NZD/USD , USD/CAD , USD/JPY , USD/CHF Forecast.Our weekly forex forecast covers technical analysis, price action on major forex pairs , assets using the high-timeframes and market environment.
Read more »