EUR/USD Pushing Higher and Approaching 1.1300

The EUR/USD pair continues to trade with better sentiment for the second consecutive session, touching weekly highs near 1.13 levels

The combination of hopes for a Covid 19 vaccine and headlines about Europe’s economic reopening has pushed traders toward riskier assets.

In terms of data in the euro area, Spanish unemployment rose more than 5 thousand during June, confirming its downward movement since its peak in March at 302 thousand, while in Italy, the unemployment rate rose to 7.8 in May. 4

The EUR/USD pair remains well supported around the 1.1170 regions so far, and investors are evaluating the opening of the economy in Europe while assessing the possibility of a second wave of contagion. However, the constructive outlook for the Eurozone remains with the progress of some of the major economies in the Eurozone.