empty
 
 
sp
Soporte
Apertura instantánea de la cuenta
Plataforma comercial
Depositar/Retirar

05.08.202614:48 Forex Analysis & Reviews: US dollar: colossus with feet of clay

Relevancia 08:00 2026-08-10 UTC--4

Brent has returned above $80/bbl amid an escalation between the Houthis and Saudi Arabia in the Red Sea, yet the bulls' push on EUR/USD seems unstoppable. The euro is rising on hopes for a new US-Iran deal to reopen the Strait of Hormuz. Donald Trump said signatures could come "today or tomorrow." Axios reports there is no talk of a transit fee.

Energy-import-dependent Europe would breathe easier if Brent returns to pre-crisis levels. Its economy would continue to recover, narrowing the GDP growth gap with the US and laying a firmer foundation for a EUR/USD rally.

European economic dynamics

Exchange Rates 05.08.2026 analysis

At first glance, a weakening US dollar looks illogical. The United States stands on a solid footing: massive AI investments and energy exports provide support, Treasury yields are high, and stock indices are testing record highs — all factors that should attract capital to the US and strengthen the greenback. Moreover, the futures market still prices in possible Fed tightening and does not rule out two rate hikes in 2026.

But on FX, it's not the current snapshot that matters so much as the dynamic. The growth and rate differentials between the US and the euro area are narrowing. The odds of Fed tightening are falling. That alone is enough for EUR/USD to grind higher. ANZ expects the dollar to continue weakening through year-end as macro data deteriorate and the probability of policy tightening drops — although the process will not be rushed.

S&P 500, EuroStoxx 600 and EPS dynamics

Exchange Rates 05.08.2026 analysis

European assets are ready to compete with US ones in 2026. The EuroStoxx 600 is less exposed to AI-linked technology stocks that US investors are offloading. Coupled with 16% earnings growth in Q2, falling oil prices, positive euro?area economic signals and a lower chance of ECB hikes, European issuers look well supported. Capital flows into the region from the US and Asia create a tailwind for EUR/USD.

Exchange Rates 05.08.2026 analysis

Thus, despite strong US economic data, the appeal of American assets and market belief in Fed hikes, a shrinking GDP differential, and capital flows into Europe are encouraging dollar selling.

Technically, on the daily chart, EUR/USD is attempting to restore an uptrend. We continue to favour a buy strategy. A break above resistance at 1.1555 would be a signal to add to existing long positions.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Marek Petkovich,
Analytical expert of InstaSpot
© 2007-2026
Benefíciese de las recomendaciones de los analistas ahora mismo
Recargue su cuenta de operaciones
Abra una cuenta de operaciones

¡Los informes analíticos de InstaSpot lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaSpot, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.