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EUR/USD propped up near 1.0750 ahead of European Retail Sales

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EUR/USD churned around 1.0770 to kick off the new trading week, with the pair rising after better-than-expected Purchasing Managers Index (PMI) figures early Monday before settling into familiar chart territory above 1.0750 ahead of Tuesday’s pan-European Retail Sales figures due in the upcoming European market session.

EUR/USD cycled above 1.0750 on Monday. European Retail Sales figures due on Tuesday. Friday’s US consumer sentiment survey to cap off an otherwise quiet week. EUR/USD churned around 1.0770 to kick off the new trading week, with the pair rising after better-than-expected Purchasing Managers Index figures early Monday before settling into familiar chart territory above 1.0750 ahead of Tuesday’s pan-European Retail Sales figures due in the upcoming European market session.

The week’s US data docket remains tepid, leaving Fedspeak from various heads of the Federal Reserve giving speeches this week at the forefront. The week will close out with Friday’s University of Michigan Consumer Sentiment Index, which is expected to ease back down to 77.0 in May after the previous month’s 77.2. EUR/USD technical outlook EUR/USD is in chart churn near 1.

 

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