EUR/USD Stuck in Range as Markets Await Fresh US Data

Societe Generale's Kit Juckes notes that EUR/USD has retraced half of its drop from above $1.20 to $1.1325, and is now stuck in a range as markets await fresh US data.

The dollar is neither up nor down, waiting to find out whether soft US July employment and retail sales data will be repeated, according to Juckes.

Growth and rate differentials are steering the pair, with 2026 US growth forecasts revised down to 2.1%, while Eurozone forecasts were raised to 0.8%.