April 30, 2025
EUR/USD outlook: Attention turns to key US data
We saw stronger-than-expected Eurozone GDP figures this morning, but there was no corresponding rally in the EUR/USD. Traders in the pair also ignored yesterday’s release of soft US data highlighting crushed confidence amid trade uncertainty, raising concerns about US consumer spending. It looks like the resilience of the US dollar to weak data is due to traders reversing the “Sell America” trades, buoyed by renewed optimism around potential trade deals between the US and major partners.