EUR/USD hits fresh daily highs above 1.1260, gains 2 pips per hour

• Euro among top performers on another quiet trading day. 
• EUR/USD continues to recover after Thursday’s slide. 

The EUR/USD pair rose further during the US session and continued to move slowly. It peaked at 1.1261, reaching the highest level since Thursday and is posting gains for the second-day in-a-row. Still remains far from Thursday’s level when it traded close to 1.1300 before falling sharply following weaker-than-expected Eurozone economic data. 

Euro up across the board 

The move to the upside in EUR/USD was boosted by a modest correction in the DXY. Many European markets remain closed today while in the US, equity prices are posting mixed results. Economic data from the US had no impact. The DXY is down 0.10% at 97.25.

Regarding the euro, it is among the top performers. EUR/CHF broke above 1.1425 to the highest since early February, while EUR/GBP approached April highs that reached last week at 0.8680. 

In the EZ, the next relevant economic report will be on Wednesday with the German IFO survey while in the US on Friday, Q1 GDP data is due. US-China talks are set to resume and the Brexit drama will likely hit headlines after the recess from the UK Parliament. On Tuesday, market activity will return to normal after almost a week. 

Levels to watch