**EUR/USD Strengthens Amid Mixed US Economic Data, Market Eyes on Trump-Putin Talk**
*Adapted and expanded from original reporting by FXStreet News. Additional information sourced from Reuters and Bloomberg.*
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The EUR/USD currency pair advanced during the Thursday trading session as investors reacted to a series of mixed economic data releases from the United States. Market participants also closely monitored the upcoming meeting between then-US President Donald Trump and Russian President Vladimir Putin, which added an extra layer of geopolitical tension and uncertainty to the foreign exchange markets.
### Market Recap: EUR/USD Moves Higher
The EUR/USD currency pair experienced an upward push, recovering from earlier pressure, as a result of the following factors:
– **Mixed US Economic Reports:** Data released highlighted both strengths and weaknesses within the US economy.
– **Political Uncertainties:** Traders reacted cautiously ahead of a highly anticipated Trump-Putin summit, with risk sentiment influencing the market.
– **Technical Factors:** The pair’s movement was further assisted by technical support levels and profit-taking after a minor retracement.
#### US Data: Parsing the Numbers
Several significant US data points were released, painting a complex picture of the world’s largest economy:
– **US Retail Sales:** Retail sales for July rose by 0.5%, slightly above market expectations. However, the previous month’s figure saw a downward revision, dampening overall sentiment.
– *Core retail sales* (excluding automobiles, gasoline, building materials, and food services) were also fairly strong, indicating solid consumer spending.
– **Weekly Initial Jobless Claims:** The number of Americans filing for first-time unemployment benefits came in at 212,000, below the forecast of 215,000, signaling a still-tight labor market.
– **Philadelphia Fed Manufacturing Index:** The index, which measures manufacturing activity in the Philadelphia region, fell more than expected, suggesting some weakening in that sector.
– **Import and Export Prices:** Both import and export prices eased, reducing concerns about immediate inflation pressures.
– **Homebuilder Sentiment:** Sentiment among US homebuilders ticked higher, bolstered by steady demand for new homes.
Reacting to the somewhat contradictory data, the US dollar initially gained but soon lost momentum, enabling the euro to mount a recovery.
#### Eurozone Developments
While US news dominated headlines, investors also remained attuned to developments in the Euro area:
– Germany’s GDP growth met expectations, supporting the broader Eurozone’s ongoing expansion.
– Ongoing uncertainty regarding Brexit negotiations and European political stability continued to cast a shadow over European assets.
With both regions showing mixed economic signals, traders looked for direction from political events, especially the Trump-Putin summit.
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### Political Focus: Trump-Putin Meeting Looms
As economic news battled for attention, all eyes were turning to the upcoming summit between President Donald Trump and President Vladimir Putin, scheduled to be held in Helsinki. The event held profound implications for:
– **Geopolitical Risk:** Investors remained vigilant, anticipating possible headlines that could
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