The EUR/USD pair traded uneventfully around the 1.0550 mark throughout the first half of Tuesday, confined to a tight range, although buyers maintain
EUR/USD Current Price: 1.0541 Financial markets remain cautious amid continued tensions in the Middle East. United States Retail Sales came in much better than anticipated, up 0.7% in September. EUR/USD retreats sharply from an intraday high of 1.0578 gaining bearish traction. ing the upward pressure amid persistent US Dollar’s weakness. Additionally, the Euro found support in upbeat German data, as the German ZEW Survey showed Economic Sentiment improved in October by more than anticipated.
Later in the American session, the US will release September Industrial Production and Capacity Utilization and August Business Inventories. Federal Reserve Governor Michelle Bowman will be on the wires. Bowman is on the hawkish side of the spectrum, as she said that further rate hikes will likely be needed to tame inflation. EUR/USD short-term technical outlook The EUR/USD pair retreats from an intraday high of 1.0578 following upbeat US Retail Sales and trades in its comfort zone around the 1.
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