Minor EUR/USD option expiries today are unlikely to sway markets as focus shifts to euro area PMI data and inflation concerns.
EUR/USD option expiries at 1.1350 and 1.1430 levels are set for today’s 10am New York cut but are expected to have limited market impact. The dollar remains dominant, pushing EUR/USD below 1.1400, with technical levels like the 100-hour and 200-hour moving averages at 1.1407-20 drawing more attention.
Markets are leaning toward a European Central Bank rate move in September, reducing the likelihood that today’s PMI data will alter expectations. Inflation trends and geopolitical developments, particularly in the Middle East, are seen as more critical drivers. Dutch TTF gas futures have surged over 40% in July, nearing March’s peak, adding to inflation concerns.
AUD/USD expiries above 0.7000 are also noted but are not expected to influence price action due to the current spot price distance. Overall, technical resistance and broader macroeconomic factors are likely to overshadow today’s expiries.