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Friday, July 14th
The EUR/USD pair remains largely flat-lined near the level of 1.14 on the final day of this week, barely benefiting from shrinking expectations of Fed aggressive tightening policy. Seems that EUR bulls also lack of any momentum today, as recent dovish comments of ECB member I.Rimsevics, talking about weaker inflation and necessity to run the QE program, are weighing the pair somewhat this Friday. On the other hand, shrinking risk appetite ahead of US fundamentals is lending some support to the euro, forcing the pair to step away from its overnights lows. Now all eyes remain glued to the US economic inflation data, which will bring some hints regarding further divergence between Fed and ECB political courses, thereby shaping up pair’s short-term trajectory. Besides inflation prints, the US will also release retail sales data, while Eurozone trade balance will keep investors busy during European trading hours.
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