The euro (EUR) has risen a modest 0.2% against the US dollar (USD), being an average yield between the G10 in an environment of widespread weakness of the USD, says Shaun Osborne, Head of FX of FX of Scotiabank.
The markets observe a very active ECB speeches calendar with relief still valued until the end of the year
“The foundations offer little from a directional perspective since the differentials of interest rates have fallen again in their previous range and have reversed their recent profits that supported the Eur. The launch calendar this week is limited to the confidence of the investor (Tuesday) and industrial production (Friday) and there is a very loaded ECB calendar with about 15 speeches scheduled before Friday.”
“The ECB approach is on the road in the short term for politics and uncertainty about the need for greater relief. Markets still value 25 basic relief points for December, while some policy managers have expressed confidence in the possibility that the BCE You have already reached its terminal rate for this last cycle of relief. “
“The EUR technicians remain bullish, despite signs of minor exhaustion and their inability to spread far beyond 1,1400. The trend of several months remains bullish and support has been observed in the 50 -day mobile average (1,1271). The RSI is in 57 and well below the overcompra levels. We look for short -term support around 1,1350 and short -term resistance around 1.15.
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.
