Ella 
EUR/USD is trading just above the €1,008 level as it attempts to limit losses after recovering slightly from a fall of €10,788 during Thursday’s early trading session.
Yesterday was very interesting, with negative sentiment on international stock markets acting as the main catalyst for a stronger US dollar, which is traditionally a safe-haven currency.
Although the U.S. economy has significant advantages, more and more people believe that international stock prices are quite high and there is plenty of room for significant adjustments.
This situation, coupled with the high USD vs. EUR interest rates, may increase the likelihood that the USD will develop a bullish trend and soon the 1,06 level will be called into question again.
The trading range has been relatively limited for a longer period of time, and several important macroeconomic data over the next two days may free the pair from the narrow trading range of 1.08 – 1.09 and make a significant move.
Preliminary data on the growth path of the U.S. economy, as well as inflation data on both sides of the Atlantic today and tomorrow, are expected to generate significant investor interest.
Even though the dollar seems to have room for further gains, I remain on the sidelines because I haven’t forgotten that European currencies have remained very faithful in their responses.
