EUR/USD reclaims ground lost around 1.0450.US markets are closed due to Independence Day on Monday.
The single currency starts the week on a positive note and pushes EUR/USD back to the 1.0450 region on the back of renewed dollar weakness.
EUR/USD looks to risk trends for direction
EUR/USD manages to regain some ground lost following Friday’s strong pullback and extend the rebound north of the 1.0400 hurdle on Monday.
The uptick in the pair comes amidst the inactivity in the US markets and against the backdrop of reduced trade conditions and scarce volatility.
What to look for around EUR
EUR/USD remains under pressure and still unable to gather serious upside traction, another proof that sellers remain well in control of the sentiment surrounding the European currency for the time being.
Indeed, the pair is still far away from exiting the woods and it is expected to remain at the mercy of dollar dynamics, geopolitical concerns, fragmentation worries and the Fed-ECB divergence.
Among positives for the euro can be found, however, in higher German yields, persistent elevated inflation in the euro area and a decent pace of the economic recovery in the region. Collaborating with this view also appears the generalized hawkish chatter around ECB’s rate-setters.
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