EUR / USD retreated quickly from the session summit, returning below the 1.1700 averages
EUR / USD retreated quickly from the session summit, returning below the 1.1700 averages

The pair continued to recover at night trading from the three week low and was backed by persistent US political drama and a persistent US dollar sales outlook with suspicions on the Fed’s additional interest rate hike in 2017.

On the economic data side, the positive German Producer Price Index (PPI) data showed factory-level prices rose above expectations in July, while the euro zone was largely neutralized by the June current account data.

Meanwhile, especially after the minutes of the tightening European Central Bank monetary policy meeting yesterday, the modest uptrend seemed to be lacking in continuity, with the parity jumped 25-30 pips faster than the session summit and is now trading around the 1.1745 region.

Markets are also disappointed with the news that AMB President Mario Draghi may not discuss the monetary policy outlook at the Jackson Hole Symposium, which will take place next week. However, the disappearance of AMB tapering expectations may encourage additional profit sales on the last trading day of the week.

The UoM Consumer Confidence Index data from the US is expected on the data front, attention will be on the talk of Dallas Fed President Robert Kaplan.
The EUR / USD pair is currently trading at 1.1745 with 0.19% gain.

Significant technical levels for EUR / USD
1.1770 / 80 region and 1.1820 / 30 level resistance may support for the 1.1690, 1.1650 and 1.1600 (psychological level) level parity.

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