The euro (EUR) rises 0.2% against the US dollar (USD) and is low yield compared to most of the G10 currencies, with the exception of the Canadian dollar (CAD) and the Swiss Franco (CHF), says Shaun Osborne, head of FX de Scotiabank.
EUR/USD is still well supported
“The decrease in commercial tensions should allow the markets to focus on the fundamentals and the ECB meeting on Thursday, where it is widely expected that the Central Bank will make a 25 basic points cut in the deposit rate at 2.25%.”
“The characterization of the risks by those responsible for the policy will be important, given that the winds against growth must be balanced with the inflationary risk related to tariffs. Germany will also publish the data of the ZEW business feeling survey on Tuesday.”
“EUR/USD remains well supported and the currency is being negotiated at levels not seen since the beginning of 2022, threatening with a thrust towards 1.15. The momentum is overcompted above 70, with a RSI about 77. We seek short -term support in the middle of 1.12 and resistance in the middle of 1.14.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
