Around 1.1800, the EUR/USD is still on the defensive.
In June, the EMU final headline CPI increased by 1.9 percent year on year, while the Core CPI increased by 0.9 percent.
In June, US retail sales increased by 0.6 percent on a month-over-month basis.
Sellers continue to dominate the atmosphere surrounding the single currency, with EUR/USD circling around 1.18 so far.
The EUR/USD is hovering around 1.1800, despite the dollar’s persistent upward pressure, which has been bolstered by a rise in US yields and recent dovish Fed comments.
The brighter note in the buck comes as FOMC members Evans and Bullard said that QE tapering could begin sooner than expected, while Chairman Powell suggested that strong inflation could endure longer than originally thought.
In the euro zone, final headline CPI grew 1.9 percent year on year in June, while core prices rose 0.9 percent year on year, both values matching preliminary statistics.
In the United States, retail sales increased by 0.6 percent on a monthly basis, while sales excluding the cars sector increased by 1.3 percent.
The preliminary July US Consumer Sentiment, seconded by TIC Flows, is due later in the NA session.
So far, spot is down 0.11 percent at 1.1797, with a break below 1.1771 (monthly low July 14) aiming for 1.1762 (78.6 percent Fibo of the November-January surge) and 1.1704 as a goal (2021 low Mar.31). The next stumbling block is at 1.1895 (weekly high July 6), then 1.1975 (weekly high June 25), and finally 1.2002. (200-day SMA)./n
