EUR/USD: the week of 27 Jul–31 Jul
The 30-second summary
During the week of 27 July to 31 July 2026, EUR/USD was driven by economic releases and central bank policy announcements. Early in the week, Euro strength was supported by positive German Ifo data and Eurozone employment figures, while weaker US Durable Goods weighed on the Dollar. Volatility escalated later with Eurozone inflation, US GDP contraction, and an unchanged Federal Reserve interest rate, before robust US data bolstered the US Dollar on Friday.
The week at a glance
Monday 27 July
US Durable Goods Misses while German Data Outperforms
German Ifo business climate data exceeded forecasts, offering Euro support during London trading, while a significant miss in US Durable Goods Orders weakened the US Dollar across sessions.
Tuesday 28 July
Eurozone Employment Gains and Softening US Consumer Confidence
A decline in the Eurozone unemployment rate provided a lift to the Euro, whereas falling US consumer confidence and cooling labour indicators weighed on the US Dollar.
Wednesday 29 July
Euro Weakness on Rising Unemployment and Unchanged Fed Policy
A rise in Eurozone unemployment weakened the Euro during London trading. Later, the Federal Reserve held interest rates at 3.75 percent, leaving dollar sentiment neutral.
Thursday 30 July
Eurozone Inflation Surge and Disappointing US GDP
Strong Eurozone inflation and economic growth figures lifted the Euro early, while a notable miss in US GDP growth triggered sharp volatility in dollar pairs.
Friday 31 July
Elevated Eurozone Inflation and Strong Late US Economic Releases
Euro pairs faced mixed employment and flash inflation numbers before robust US economic releases around the New York open provided strong support for the greenback.
What moved the market
- German Ifo business climate beating forecasts alongside a soft US Durable Goods Orders print on 27 July.
- Eurozone unemployment falling to 9.87 percent and cooling US labour and consumer confidence data on 28 July.
- A higher Eurozone unemployment rate and the Federal Reserve maintaining interest rates at 3.75 percent on 29 July.
- Accelerated Eurozone growth and inflation figures alongside a miss in US GDP growth on 30 July.
- Eurozone core inflation persistence balanced against robust US economic data on 31 July.
What traders could have done
- Monitored scheduled morning Eurozone releases and afternoon US data to avoid trading directly into initial release spikes.
- Waited for session volatility to settle following the 29 July Fed interest rate decision before assessing market sentiment.
- Allowed price action to establish defined post-news structure after high-impact US GDP and Eurozone inflation announcements on 30 July.
Lessons from the week
Lesson 1
Managing Scheduled High-Impact News
Economic events such as central bank rate decisions and GDP releases can create rapid volatility spikes. Prepared traders often wait for the market to absorb the data and settle before evaluating opportunities.
Lesson 2
Evaluating Contrasting Economic Indicators
When regional data presents mixed signals, such as rising unemployment alongside stubborn core inflation, market sentiment and direction can shift quickly across different sessions.
Lesson 3
Risk Control During Clustered Data Releases
Multiple economic releases scheduled throughout both London and New York sessions demand disciplined risk management to avoid unexpected shifts in market momentum.