With significant economic data imminent, the EURUSD has observed its sixth consecutive trading day in the green. The most recent US Nonfarm Payrolls (NFP) data and European Retail Sales could result in substantial market fluctuations. Following the US Independence Day holiday on Thursday, it is anticipated that the trading session on Friday will witness an increase in activity on US markets.
European Data Remains Positive For EURUSD
Compared to the previous month's decline of -0.2%, German factory orders experienced a 1.6% month-on-month decline in May, falling short of the anticipated 0.5% increase. Although European figures were weakened, the EUR/USD was supported by a general weakening of the US Dollar, which pushed it just above 1.0800.
The dissemination of Pan-European Retail Sales is scheduled for early Friday. Sales are anticipated to increase by 0.2% month-over-month in May, compared to the previous -0.5% decline. Moreover, the annualized sales are expected to increase by 0.1% year-over-year from the previous 0.0%.
