The euro (EUR) has risen a modest 0.2% against the US dollar (USD) and is trying to stabilize in the middle/upper part of 1.16, supported by an improvement in the mood of the market in general, they report Shaun Osborne and Eric Theoret, Chief Strategies of FX of Scotiabank.
EUR does not show reaction to the surprise of the Zew feeling
“The feeling figures of Zew investors were better than expected, but they did not offer any immediate reaction in the currency.”
“Commercial tensions remain a key source of uncertaintybut market participants seem to find tranquility in the disposition of both parties to continue the negotiations. Short -term rates markets remain unchanged and still value around 25 basic relaxation points by the end of the year. ECB communication has been unequivocally neutral and The markets are not valuing changes for the meeting next Thursday.“
“The EUR medium -term trend remains bullish, but the last setback has brought its impulse to Neutral impulse. We notice the continuous importance of the 50 -day mobile average (1,1479) in terms of offering medium -term support, and we see that the short -term range is approximately limited between the support of 1,1650 and the resistance of 1,1720.”
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.
