EUR/USD is heading higher for the fifth consecutive day on Tuesday, trading just above 1.1650 at the time of writing, from 1.1580 lows last week.
The initial positive sentiment around US-China trade talks faded as the Oil market progressed through yesterday's trading session, with ICE Brent settling almost 0.5% lower. Meanwhile, the market continues to digest the impact of US sanctions on Russian Oil flows on Rosneft and LukOil.
One might have thought EUR/USD would be performing a little better given the global risk environment. A US-China trade truce would be welcome news for global trade, allowing for some nascent optimism in business sentiment to extend, ING's FX analyst Chris Turner notes.