The euro (EUR) rises 0.2% against the US dollar (USD) and is an average yield between the G10, extending its recovery of the setback driven by geopolitical factors last week, says Shaun Osborne, Chief Estratega of FX of Scotiabank.
Market participants observe this week’s Fed meeting
“The recovery in the appetite for the risk is important, however, the fundamentals of the EUR are critical as market participants observe this week’s Fed meeting and its implications for the relative policy of the central banks.”
“A good part of the recent EUR rebound has been provided by the continuous change of the ECB to a neutral posture, and a greater strength has resulted from a slightly more moderate adjustment in the expectations for the Fed. The culminating point of this week’s data will be the figures of Zew feeling on Tuesday, along with another intense week of ECB’s oratory commitments.”
“The trend is upward, promoting new maximums of several years and a break above 1.16. The RSI is confirming and showing a renewed bullish impulse, climbing to the middle of the 60 between the 1,1500 support and the resistance of 1,1650. “
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.
