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EUR/USD news for July 29, 2026

The euro is holding steady against the dollar as ECB official Patsalides downplayed the obligation to follow through on rate hike projections, while a tracker shows no pickup in Eurozone wage pressures. Meanwhile, a White House economic advisor's comment on Kevin Warsh adds a US political backdrop. These factors suggest a neutral tone for EURUSD, with the euro resilient despite risk-off sentiment.

How the day unfolded

  1. The euro is finding support against the US dollar as the European Central Bank is expected to deliver at least one more rate hike, likely in September. Despite risk-off sentiment, the euro has held steady, with analysts pointing to the ECB's tightening bias as a key driver. This contrasts with the British pound, which has been more pressured by market moves.

  2. The euro is finding support against the US dollar as the European Central Bank is expected to raise interest rates again in September, with policymakers signaling at least one more hike is needed. This rate outlook is bolstering the euro despite broader risk-off sentiment, though gains may be limited as the euro is not rallying broadly but rather benefiting from relative monetary policy divergence.

  3. The euro is supported by expectations of further ECB rate hikes, with officials like Kazimir signaling at least one more increase. However, risk-off sentiment and the euro's relative performance against other currencies may limit gains.

  4. The euro is supported by expectations that the ECB will raise rates again in September, although an ECB official noted that rate hikes in projections are not binding. Meanwhile, the euro is showing relative strength against the British pound and Swiss franc, which helps underpin EURUSD.

  5. The Euro is holding steady against the British Pound and Swiss Franc, but ECB official Patsalides downplaying rate hike obligations and a lack of wage pressure growth are tempering expectations for aggressive policy tightening.

  6. The Euro is being influenced by the ECB's signaling that rate hikes in projections are not obligatory, alongside data showing no pickup in Eurozone wage pressures. This has contributed to a softer tone for the Euro, though it has held up against the British Pound and Swiss Franc due to relative policy gaps and risk-off sentiment.

  7. The euro holds steady against the dollar as ECB's Patsalides downplays the obligation from rate hike projections and the ECB tracker shows no pickup in wage pressures, suggesting less urgency for aggressive policy tightening. Meanwhile, the euro's strength is more evident against sterling than the dollar, while the dollar is influenced by US political commentary.

  8. The Euro is holding firm against the British Pound despite risk-off sentiment, while ECB officials indicate rate hikes in projections are not binding and wage pressures remain muted. These comments may temper expectations for aggressive ECB tightening, yet the Euro's relative strength vs. Sterling suggests other factors are at play, including the Pound's own weakness.

  9. EURUSD is steady as ECB officials downplay the need for further rate hikes and wage pressures remain subdued. The euro holds ground against the pound but broader risk-off sentiment limits gains against the dollar.

  10. The Euro is steady as ECB officials downplay the need for rate hikes indicated in projections, and a tracker shows no pickup in Eurozone wage pressures, suggesting inflation may not be a pressing concern. Meanwhile, the Euro is holding firm against the British Pound despite risk-off sentiment, but broad dollar dynamics remain key for the EURUSD pair.

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As of 23:44 UTC

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Not investment advice. For informational purposes only.