EUR/USD: Listless around 1.1115, eyes on US data

• US dollar holds steady near multi-day tops amid firmer Treasury yields.
• EUR/USD looks heavy while below 200-day SMA at 1.1150
• Eyes on US GDP and Core PCE Price index for fresh impetus.

Amid a broad US dollar upside consolidation, EUR/USD trades modestly flat above the 1.11 handle, extending its Asian range trade into the European trading.

Focus on US macro data

The main currency pair trades depressed so far this Friday, consolidating the steady decline seen in the US last session. The spot continues to trade in a 50-pips narrow range between 1.1100 and 200-day SMA at 1.1150, as markets await a significant catalyst for the range break out, with slowing pre-holiday volumes affecting the trades.

The EUR docket sees the Eurozone Current Account data that is likely to have virtually no impact on the shared currency, just as it ignored the downbeat German Gfk Consumer Confidence Survey for January. The gauge arrived at 9.6 for Jan vs. 9.8 expected and 9.7 previous.

Therefore, all eyes now turn towards the US Q3 Gross Domestic Product (GDP) revision, Core PCE Price Index and Personal Spending data for a fresh direction in the major. The US final GDP data usually hold little relevance but an upbeat Fed’s preferred inflation measure and Personal Spending figures could have a significant impact on the dollar trades. Also, the US-China trade-related updates will be closely eyed for some trading incentives.

EUR/USD Technical levels to consider