EUR/USD wobbles below 1.0700 ahead of data, ECB EURUSD Currencies Majors
Flash EMU CPI rises 6.1% YoY in May, Core CPI up 5.3%.alternates gains with losses below the 1.0700 hurdle following Wednesday’s bounce off multi-week lows near 1.0630 on Thursday.EUR/USD trades at shouting distance from the 1.0700 barrier, although without a clear direction, on the back of the equally flattish mood in the greenback on Thursday.
Further news bolstering optimism among traders notes that a divided House passed a bill suspending the $31.4 trillion debt ceiling late on Wednesday, with majority backing from both Democrats and Republicans, raising hopes that it would be approved by the Senate before the weekend. Across the pond, the ADP report is due, followed by Initial Claims, the ISM Manufacturing PMI, the final S&P Global Manufacturing PMI and Construction Spending. In addition, Philly Fed P. Harker is due to speak in the European evening.The sell-off in EUR/USD seems to have met some initial contention around the 1.0630 region, or 2-month lows, so far this week.US Dollar
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