The euro (EUR) is consolidating silently in the low 1.17 and extending the narrow range of this week, they report Shaun Osborne and Eric Theoret, Chief Strategies of FX of Scotiabank.
Markets await a catalyst with relief in commerce/tariffs
“The Final IPC of Germany was published in line with expectations, registering a 2.0% year -on -year, and France will publish its final IPC figures on Friday. The week has been relatively quiet from a fundamental perspective, since the markets have been attentive to commercial conversations between the US and the EU and have found tranquility in the tone of negotiations and avoidance by Europe US tariffs “
“The ECB comments have been neutral, rejecting the requests for rates cuts, however, the market assessment continues to incline a relief (~ 23 basic points by the end of the year). The differential differentials have become favorable for the EUR, since the US yields have receded from their recent recent.”
“The trend of several months remains bullish, but the last consolidation of the EUR has caused a considerable loss of impulse. The RSI has receded from its recent maximums overcompraced in the 70 media and is currently above 60. We continue highlighting the importance of the 50 -day mobile average (1,1459) as an important level of medium -term support. We see the range in the short term limited between the support of 1.1680 and The resistance of 1,1780. “
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.
