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The EUR/USD pair goes up slightly on Friday, after data slightly better than expected for the inflation in Europe.
The euro zone’s CPI for the month of June is therefore stable at 1.2% as expected, but the CPI core annual has reached 1.1% against 1% expected and +0.8% previously.
Earlier this morning, the inflation figures for France and Italy had already suggested a good surprise, and had allowed the Euro to begin its rise.
The movement, however, remains limited to a peak-to-1.1393 for the moment, against 1.1360 about in the beginning of the european session, which is not sufficient to clarify the uncertain trend , which reigns in the short term for a few days.
Has the upside, break above 1.14, and above the top of the beginning of the week to 1.1412 are needed to confirm the underlying trend upward.
Has the downside, a break below 1.1350 would increase the risk of a correction to more sustainable, to the moving average 200 hours to 1.1320 and then to the psychological threshold of 1.13 in a first time.
Finally, it will be recalled that the economic calendar of the day will still be the occasion of several statistics US potentially influential on the Dollar, and thus on EUR/USD, with household expenditure and the price index for PCE at 14: 30, the index Chicago PMI at 15: 45, and the index of consumer confidence according to the University of Michigan (16h.
We will also remain attentive to any statement made to refine the expectations for the outcome of the meeting Trump-Xi of tomorrow, knowing that the more the outcome will be positive, the greater the chances of seeing the Fed cut its rate next month will fall, which should benefit the Dollar.