EUR/USD Forecast: Tech Rally Tilts Dollar Bid Ahead of Data

US technology earnings are indirectly shaping the EUR/USD narrative this week. With Snowflake surging on AI-fueled guidance and HPE beating expectations on enterprise AI server demand, US equity strength is reinforcing capital inflows into dollar-denominated assets, a dynamic that typically weighs on the euro.

Even Broadcom's post-earnings dip hasn't derailed the broader AI optimism, since investors appear focused on sector-wide momentum rather than single-stock disappointments. This selective risk appetite is keeping dollar demand resilient, limiting EUR/USD upside attempts.

Euro traders should monitor whether this dollar strength is purely equity-flow driven or starts feeding into broader USD momentum, as sustained AI-linked capital rotation could extend near-term downside pressure on the pair.