EUR/USD remains pressured around 1.2000 amid cautious mood

• EUR/USD remains vulnerable ahead of fresh US data.
• Macroeconomic divergence weighs on the euro.
• DXY bounce amid worsening mood adds to the bearish bias.

EUR/USD is pressuring the downside around 1.2000, looking to test two-week lows of 1.1986, as the US dollar has caught a fresh bid-wave amid worsening market mood.

A fresh wave of risk-aversion gripped Asia after China’s state planner announced that the government has decided to put an end to the strategic alliance with Australia, as the ties deteriorate. Asian stocks ex-Japan tumbled while the S&P 500 futures erased gains, lifting the safe-haven appeal of the US dollar.

“On Thursday, Germany will publish March Factory Orders, while the EU will release March Retail Sales, seen up by 1.5% MoM. The focus during US trading hours will be put on employment-related data, as the country will publish Q1 Nonfarm Productivity and Labor Costs and Initial Jobless Claims for the week ended April 30, foreseen at 540K,” FXStreet’s Chief Analyst, Valeria Bednarik, notes.

developing story .,..

EUR/USD technical levels