Not too much on the agenda in European trading later today

August 20, 2024
-Euro, FCHFX

August 20, 2024 at 04:44AM
The dollar is in a sluggish spot, as it comes under renewed pressure to start trading this week. EUR/USD broke out to its highest since December, now eyeing the highs then at 1.1123-39. Meanwhile, AUD/USD also extended its upside run to the highest in a month above the 0.6700 mark.

USD/JPY remains a focus as well, seeing volatile price action so far on the day. The pair fell to a low of 145.85 earlier but is now trading 100 pips above that near 147.00 – up 0.2% on the day. Here’s a look at the near-term chart:

Looking to European trading, traders will once again have to look to themselves for motivation to any moves. Risk trades got a boost in US trading yesterday but US futures are more muted today, with S&P 500 futures keeping flat. And there isn’t much on the economic calendar to really shake things up.

That means we might get another slow and quiet session while continuing to await more Fedspeak during the week.

0600 GMT – Germany July PPI figures0600 GMT – Switzerland July trade balance data0800 GMT – Eurozone June current account balance0900 GMT – Eurozone July final CPI figures

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.

This article was written by Justin Low at www.forexlive.com.

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