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EUR/USD trades modestly flat

EUR/USD pair trades modestly flat closing out yesterday at 1.0950, around a flat line awaiting fresh cues

By Richard Nehme | Aug. 4, 2015 10:31 BST
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EUR/USD pair trades modestly flat closing out yesterday at 1.0950, around a flat line awaiting fresh cues. The pair is seen fluctuating in a tight band locked in a 20-pip range as the European currency consolidates previous losses following an EU outlook downgrade from stable to negative by S & P ratings agency. The main currency pair also ignored downbeat US ISM manufacturing data released yesterday as markets preferred to hold the US currency ahead of a heavy US economic calendar this week. Markets now turn their attention towards US factory orders data due later today (15:00 BST) in absence of any significant data releases in the EUR calendar ahead [...]

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