The EUR/USD holds firm during the North American session on Tuesday, with traders still digesting the latest employment figures in the United States (US) and the release of further US data. Across the pond, HCOB Flash PMI numbers were mixed across the European Union (EU) yet failed to push the Euro higher against the US Dollar. At the time of writing, the pair trades at 1.1573, unchanged.

Further developments, during the session, revealed that US President Donald Trump was considering nominating the US Treasury Secretary Scott Bessent to the vacant spot on the Federal Reserve, following Adriana Kugler's resignation as Fed Governor, effective on August 8. Nevertheless, Bessent asked not to be considered for the position.

On the data front, the Institute for Supply Management (ISM) revealed that business activity in the services sector is stagnating. Earlier, the US Commerce Department announced that the trade deficit shrank to an almost 2-year low in June, while China's trade gap narrowed.

Following the data release, the EUR/USD remained within familiar levels, as the prints hovered around economists' estimates, with the PMI dipping, though expanding.

In the EU, the HCOB Services PMI for the whole bloc showed some signs of softening, down from 51.2 as expected in July, to 51. Figures in France and Italy followed suit, with the former dropping to 48.5 from 49.7 in the previous month, and estimates, with the latter rising from 52.1 to 52.3, but below estimates.

The outliers were Spain and Germany, as both countries showed an improvement in the services sector, yet the prints maintained the status quo, as seen by the EUR/USD's reaction.

The US economic docket will feature Fed speakers, with traders awaiting Boston Fed Susan Collins, Governor Lisa Cook, and San Francisco Fed Mary Daly. Across the pond, Germany's Factory Orders and the Retail Sales of the EU are expected to provide cues about the economic status of the Eurozone.

Source: Fxstreet