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Euro Rises Despite Trade Jitters As the Dollar Falls on Weak US Data

The euro today rallied higher against the US dollar in the European and American sessions reversing five consecutive losing sessions to trade slightly higher. The EUR/USD currency pair today reversed Asian session losses and rallied higher boosted by positive German data and the greenback’s weakness after hitting a key resistance zone.

Euro Falls to 9-Day Lows on Trade Concerns and Positive US Data

The euro today fell to 9-day lows against the US dollar in the American session following the release of upbeat US data and a rally in US equity markets. The EUR/USD currency pair attempted to rally earlier today following upbeat trade headlines regarding the eurozone, but the rally quickly fizzled out.

Euro Hits New Weekly Lows on Mixed Eurozone Q1 GDP Data

The euro today fell to new lows against the US dollar following the release of disappointing German and eurozone GDP growth data in the early European session. The EUR/USD currency pair failed to rally higher following the release of weak US retail sales data in the early American session as investor risk appetite remained subdued.

Euro Fails to Rally amid US-China Trade Spat, Macroeconomic Data Doesn’t Help

The euro attempted to rally today but reversed movement against most of its rivals later, erasing gains against some of them outright. Traders remained cautious about the ongoing US-China trade conflict, while mixed macroeconomic data was not helping the currency either.

Euro Rallies on China’s Retaliatory Measures, Drops Shortly After

The euro today leapt to new monthly highs against the US dollar after news reports suggested that China was planning retaliatory tariffs on US exports. According to the Guardian, China is set to implement a 25% tariff on $60 billion worth of US imports as well as halting bond purchases among other measures.

Euro Rallies on US Dollar Selloff Ignoring Trade Jitters, Later Drops

The euro today spiked to new weekly highs against the US dollar in the early American session as the greenback dropped significantly against its peers. The EUR/USD currency pair later retraced some of its gains, but remained in positive territory as high-level US-China trade talks resumed.

Euro Gains Limited on Trade Tensions Despite Draghi’s Optimism

The euro today traded in a sideways range against the US dollar despite attempting to break higher driven by positive German releases and the upbeat speech from Mario Draghi. The EUR/USD currency pair’s gains remained capped by the trade tensions between the US and China, which made investors cautious about buying risky assets such as the single currency.

Euro Drops on Market Sentiment and Weak German Factory Data

The euro today fell against the US dollar as market risk sentiment remained subdued due to the uncertainty associated with the Sino-US trade negotiations. The EUR/USD currency pair also fell due to weak German factory data, which painted a gloomy picture of the eurozone’s largest economy, and the euro area at large.

Euro Range-Bound Despite the Release of Upbeat Eurozone Data

The euro today traded in a tight range against the US dollar despite the release of upbeat services PMI data from across the euro area by IHS Markit. The EUR/USD currency pair was weighed down by the risk-off market sentiment triggered by President Donald Trump‘s threat of additional tariffs on Chinese imports over the weekend.

Accelerating Consumer Inflation Fails to Bolster Euro

While the euro managed to rebound against the US dollar today, the shared 19-nation currency remained soft against other most-traded rivals. Consumer inflation beat expectations, but that failed to bolster the currency. One of the possible reasons for the euro’s weakness was the unexpected decline of producer prices.

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