EURUSD: BUY 1.1700, SL 1.1630, TP 1.1770 | 12 August 2025

EURUSD:

The euro is getting a boost from better market vibes about the possibility of the war between Ukraine and Russia ending. News about a possible meeting between Trump and Putin next week has some people hoping for a deal that could end the fighting in Ukraine.

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The EUR/USD pair is also strengthening as the US dollar (USD) struggles after weak US economic data prompted traders to price in the possibility of further interest rate cuts this year. Markets are now pricing in an approximately 89% probability of a Fed rate cut at its September meeting. Traders are also pricing in a 58 basis point probability of another rate cut before the end of this year.

Fed Governor Michelle Bowman said on Saturday that three interest rate cuts this year would likely be appropriate. Bowman added that the clear weakening of the labor market outweighs the risks of future inflation.

Traders are likely to watch for upcoming US consumer inflation data due on Tuesday, followed by preliminary UK second-quarter GDP data and US producer price index (PPI) data on Thursday.

Trade recommendation: BUY 1.1700, SL 1.1630, TP 1.1770

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