- EUR/USD continued to drift near 1.0900 after a quiet start to the new trading week.
- The Euro is poised for a rebound after paring back gains against the US Dollar.
- Key data due later in the week, data-light sessions expected until then.
EUR/USD churned on Monday just below 1.0900 as the new trading week kicks things off on a notably light note. Meaningful data remains limited for the first half of the trading week, leaving Fiber traders to shuffle in place as investors await Wednesday’s key Purchasing Managers Index (PMI) figures for both the EU and the US.
Monday and Tuesday are set to keep things roughly on-balance as markets await a kickstart to the week’s meaningful economic data calendar on Wednesday. On Tuesday, mid-tier US Existing Home Sales Change for June will be released. EUR/USD traders will be focusing on Wednesday’s double-header of Purchasing Managers Index (PMI) data prints. The EU’s Manufacturing and Services PMI for July are expected to slightly increase, with MoM Services PMI numbers projected to be at 53.0 compared to the previous month’s 52.8
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