**EUR/USD Climbs After Mixed U.S. Economic Data, Attention Turns to Trump-Putin Meeting**
*Adapted and expanded from original reporting by Eren Sengezer at FXStreet*
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### Summary
The EUR/USD pair edged higher in recent trading sessions following a batch of mixed economic data from the United States. With market focus now shifting towards an upcoming meeting between U.S. President Donald Trump and Russian President Vladimir Putin, traders are analyzing economic indicators alongside geopolitical developments to gauge the future direction of the currency pair.
Below, an in-depth analysis provides detailed context on recent price action, the fundamental factors influencing the euro and the U.S. dollar, and what market participants might expect going forward.
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### Recent Price Action
The euro made gains against the U.S. dollar, pushing the EUR/USD pair higher as the session closed. The pair moved higher to approach the 1.1700 level, reversing some recent declines. This upward momentum was largely attributed to the reaction to the mixed U.S. economic data released earlier in the session.
– **Session high**: EUR/USD reached near 1.1700.
– **Support and resistance**: The primary supports lie near 1.1650 and 1.1620, with resistance at 1.1720 and 1.1750.
A combination of factors led to the euro’s resilience in the face of earlier U.S. dollar strength. European data, global risk sentiment, and anticipation of key geopolitical events all played a role.
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### Mixed U.S. Economic Data
The U.S. economy presented a diverse picture in its latest data releases, leaving traders uncertain about the short-term trajectory of the Federal Reserve’s monetary policy. The main data points included:
– **Retail Sales (July)**:
– Increased 0.5%, exceeding forecasts of 0.1%.
– **Retail Sales (ex-auto)**:
– Up 0.6%, compared to estimates of 0.3%.
– **Industrial Production**:
– Up 0.1%, falling short of the anticipated 0.3%.
– **Manufacturing Output**:
– Down 0.3%, versus the expected 0.3% gain.
– **Capacity Utilization**:
– Remained steady at 78.1%, slightly below the 78.3% forecast.
– **University of Michigan Consumer Sentiment Index (Preliminary)**:
– Improved to 97.9, outperforming the expectation of 97.1.
The overall mixed picture emerges from a strong retail sales report contrasted by weaker manufacturing and industrial output. Consumers continue to spend despite signs of softening business investment and industrial growth.
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### Market Reaction
The initial response to the strong retail data was a bid in the U.S. dollar. However, this boost was short-lived as the lackluster industrial and manufacturing numbers dampened enthusiasm for the greenback. The euro subsequently regained ground as
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