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EUR/USD steadies near 1.1670 as US and European rate moves offset
Danske Research cited lower US yields and softer oil as a drag on the dollar, while declining European rates limited the euro's upside.
EUR/USD was little changed around 1.1670, after a modest pullback from overnight highs, as Danske Research said offsetting rate moves left the pair without a clear directional signal.
The firm pointed to lower US yields and softer oil prices weighing on the dollar, with Brent falling below USD90, alongside declining European rates capping gains in the euro.
In the data calendar, Danske noted the German Ifo index rose in August, with the current assessment index up to 88.5, the highest since 2024, and expectations rising to 89.1.
In the US, the Conference Board consumer confidence index fell to 89.4 in August, below consensus expectations of 91.2, and Danske flagged that the July PCE inflation report is due later, with June PCE at 3.7% year over year and core PCE at 3.3%.
Latest closeBrent $88.59 ▲1.8%|EUR/USD 1.157 ▲0.4%