EUR/USD benefited from the modest selling pressure surrounding the US Dollar (USD) and closed in positive territory on Monday.
EUR/USD trades above 1.0750 after closing in positive territory on Monday. Producer inflation data from the US will be watched closely by market participants. Fed Chairman Jerome Powell is scheduled to deliver a speech later in the day. EUR/USD benefited from the modest selling pressure surrounding the US Dollar and closed in positive territory on Monday. The pair stays relatively quiet below 1.0800 early Tuesday ahead of key events.
Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area are especially significant, as they account for 75% of the Eurozone’s economy. How does the Trade Balance impact the Euro? Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
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