EURUSD Volatility Ahead of US Consumer Confidence: The USD continues to get hit with no value buyers. The big winners out of USD weakness have been the EUR and AUD, with the EUR/USD having the potential of hitting 1.20 and perhaps even the long-term 50% Fibonacci retracement level of 1.22 in extension.
EURUSD Volatility Ahead of US Consumer Confidence
On the economic calendar today we have the French GDP for Q2 out at 6:45 AM GMT which is expected to remain unchanged. During the New York session, the US Consumer Confidence (AUG) will be in focus at 2 PM GMT expected to tick lower to 120.6 from last month’s 121.1. A miss of expectations could make things even tougher for the USD while a better than expected result could put a temporary tap on its downfall.
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