Session Recap: USD consolidates recent moves

FXStreet (Córdoba) - Quiet trading and a low flow of economic data has been the theme of the session splashed with a touch of risk aversion amid news that the EU and US have imposed new sanctions against Russia.

The EUR/USD has ranged in a narrow range just above its 1-month low of 1.3519, with the in-line-with-expectations Eurozone CPI having little impact on the pair. The GBP/USD extended its correction from 6-year highs but managed to bounce ahead of the 1.71 mark. The USD/JPY is giving up previous weekly gains, having slid back to 101.40.

Elsewhere, Eurozone stocks were broadly lower while US futures point to a lower opening, although gold and oil have managed to advance.

Data due today includes weekly initial jobless claims, June housing starts and the Philly Fed Index for July.

Main Headlines in Europe:

What’s the sentiment around the EUR/USD today? – OCBC Bank and Commerzbank

ECB: Stress test results due out in late October

European stocks fall after new Russia sanctions

Fitch: Stabilisation in Eurozone drives improving sovereign rating trend

EMU: Annual CPI up 0.5% in June, as expected