EUR/USD Outlook: Private Sector PMIs, Central Banks, and USD Weakness Drive Bullish Momentum
The EUR/USD surged 2.10% for the week, ending at $1.09088. Key factors to watch include German producer price figures, preliminary private sector PMIs for France, Germany, and the Eurozone, Q3 GDP and business sentiment numbers for Germany, ECB Monetary Policy Meeting Minutes and speeches, FOMC meeting minutes, and preliminary private sector PMIs for the US. The near-term trends for the EUR/USD will be influenced by these economic indicators and central bank speeches, with a resilient US economy and weak outlook for the Eurozone potentially impacting buyer demand. Technical analysis suggests that a break above the $1.09294 resistance level could lead to further gains, while a drop below $1.08500 could trigger a fall towards the $1.07838 support level.