The EUYR/USD finished Friday's session with gains of over 0.26% amid a weaker US Dollar, following dovish comments by Fed Governor Christopher Waller, which weighed on US Treasury yields. Still, an improvement in Consumer Sentiment capped the Euro's gains, with the pair trading at 1.1626 at the time of writing.
Wall Street ended the session on a higher note, as investors cheered comments by Waller, who favors a rate cut in July. Despite this, recent comments by Chicago Fed President Austan Goolsbee showed that he has moderated his dovish stance, stating that he's wary due to the latest CPI report, which shows the first signs of tariffs pushing up goods inflation.
In the data front, the University of Michigan (UoM) Consumer Sentiment in July showed that households grew optimistic about their financial situation and also expect inflation to edge lower. Aside from this, housing data also showed signs of improvement, as the European economic docket remained scarce, with investors seeking cues about a trade agreement between the European Union (EU) and the United States (US).
Next week, the EU's economic docket will feature Consumer Confidence, Flash PMIs for July and the European Central Bank (ECB) monetary policy decision. Across the pond, the US schedule will announce US housing data, S&P Global Flash PMIs, Initial Jobless Claims and Durable Goods Orders.
Source: Fxstreet
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