EUR/USD: Bulls challenge the 1.0260 area once again – by pabspiovano EURUSD Currencies Majors
German final Manufacturing PMI came at 49.3 in July.The buying interest around the European currency remains well and sound and motivatesEUR/USD trades with gains for the fourth consecutive session at the beginning of the week, although it faces a major resistance around the 1.0260/70 band so far.
In Germany, Retail Sales contracted 8.8% YoY in June, while final figures saw the Manufacturing PMI at 49.3 in July. In the euro area, the Manufacturing PMI also remained in the contraction territory at 49.8, while the Unemployment Rate stayed put at 6.6% in June. Price action around the European currency, in the meantime, is expected to closely follow dollar dynamics, geopolitical concerns, fragmentation worries and the Fed-ECB divergence.
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