EUR/USD Struggles Near 1.1650 Amid Optimism on Ukraine-Russia Talks and US Economic Data

The EUR/USD pair remains subdued near 1.1650 as positive signals emerge from the potential resolution of the Ukraine-Russia conflict. While President Trump’s preparation for a trilateral meeting with Ukrainian President Zelenskyy and Russian President Putin raises hopes for a breakthrough, the Euro struggles to gain momentum. The US Dollar gains support from recent strong data, including better-than-expected US producer inflation and retail sales figures. The markets are eyeing key events, including the Jackson Hole Symposium and Jerome Powell’s speech, for clues on the Fed’s next move. A swift resolution to the war could give the Euro a boost, given the EU’s dependence on energy imports. Traders are also looking forward to EU inflation data, Flash PMIs, and Germany’s GDP figures for further direction.

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