Dollar Slump Sets Stage for EUR/USD Breakout Amid Diverging Data
TL;DR
US data softness (July retail sales −0.6% and weak CPI/PPI) weighs on the dollar, pushing the DXY lower after breaking its uptrend; as Eurozone data surprises improve, EUR/USD closes above the 100-day moving average for the first time since May, raising prospects for a breakout, though a quiet week and price action will determine the move with key levels around 1.1577 resistance and 1.1480 support.
- US Dollar Exceptionalism Fades as EUR/USD Eyes Breakout FOREX.com
- Dollar falls to lowest since early June as rate hike bets fade Reuters
- (USD) Dollar Extends Slide as Traders Scale Back Fed Tightening Bets Bloomberg.com
- Dollar gains, yen slips as U.S. CPI meets expectations CNBC
- Dollar Falls Sharply as Prospects Dim for Fed Rate Rise WSJ
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