The Euro is slightly stronger when valued against the Greenback as worries over a trade row between China and the United States eased. The euro is 0.80 percent higher against the greenback. Yesterday we saw the EU release July´s Current Account, which recorded a surplus of €21.3 billion, compared with an excess of €23.8 billion in June and Construction Output for the same month, which beat expectations, up by 0.3% MoM and 2.6% YoY.
On the data front in the EU today we will see the release of Consumer Confidence for August which consists of a Survey of about 2,300 consumers in Eurozone countries which asks respondents to rate the relative level of past and future economic conditions.
From a technical perspective, the EUR/USD pair is currently trading at 1.1768. We continue to expect support to hold on moves approaching 1.1730 while now any upward push will likely meet resistance around 1.1799 and 1.1834.