EUR/USD: USD outperforms in the FX market as moves remain risk-related
Volatility targets safe haven and risk-related assets.
EUR/USD Technical analysis, overview, strategies, and levels
The US dollar outperformed in the FX market, with the latest geopolitical tensions causing increasing volatility in risk-related currencies. Eurozone CPI (Consumer Price Index) figures came in at an expected 1.3% of growth both overall and at its core, and as a result doing relatively little to shift EUR/USD's price which has been mostly range-bound as of late but with a touch of volatility. Out of the US, ISM's non-manufacturing PMI (Purchasing Managers Index) figure showed ongoing expansion avoiding the usual contractions of the manufacturing sector with a better than expected reading. In trade related news, the US and France will attempt to reach a compromise with regards to the digital tax over the next two weeks. Today's economic calendar is relatively light, with German factory orders early on, but where US ADP will carry more significant for USD pairs ahead of Friday's market-moving Non-Farm Payrolls.
IG client and CoT sentiment for EUR/USD
In terms of sentiment, retail bias is back in the middle from a previous slight majority short 53%.
EUR/USD Chart with retail and institutional sentiment
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