EUR/USD down from five-week highs

The EUR/USD pair hesitates to hold above 1.0300, preparing to finish the week with gains of just 0.21%. US Consumer Sentiment rises to a three-month high, while inflation expectations remain mixed.

EU’s Industrial Production surprised to the upside, but recession is still looming. The pair could not hold to its two-day gains, drops from five-month highs, back below the 1.0300 mark amid a positive market mood, after a week where US inflation reports indicate that prices are cooling down, so the Fed might take a more “dovish” approach, regarding tightening.

The EUR/USD is trading between 1.0255 and 1.3 after hitting a daily high at 1.0321, but overall US dollar strength sent the shared currency diving below the 1.03000 figure, towards a fresh two-day low at 1.0238.