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Dollar rebounds as investors eye US PCE and ADP data
EUR/USD slid toward three-month lows near the 1.1300 support level as US Treasury yields climbed.
The US dollar strengthened further to start the week, with the Dollar Index moving toward the 101.60 area for the first time since late July, driven by rising US Treasury yields and ongoing geopolitical concerns, FXStreet reported.
The focus for FX traders is on a busy US calendar, including data releases and indicators such as ADP Employment Change, US PCE, and Personal Income and Spending, alongside the final Q2 GDP growth rate and EIA’s weekly crude oil stockpiles report, according to the outlet.
In the major pair market, EUR/USD declined to three-month lows, approaching the 1.1300 support level as the US dollar strengthened and geopolitical jitters tied to the US-Iran conflict persisted, FXStreet said.
FXStreet also flagged upcoming attention in Europe, including Germany’s retail sales, labor market report, and preliminary inflation, as well as remarks from ECB official Isabel Schnabel and Fed speakers Goolsbee and Barkin.
Latest closeWTI crude $93.42 ▲1.1%|EUR/USD 1.137 ▼0.1%|Dollar index 101.25 ▲0.3%