The euro (EUR) is entering the American session on Tuesday practically unchanged against the USD, while it operates with a modest support during the last week, ignoring the continuous Dovish messages of the main policy formulators of the ECB, Shaun Osborne, FX Chief of Scotiabank Chief.
No impulse in any direction
“The Knot Governing Council member seems to bow towards a cut at the next June 5 meeting. The rates market is valuing almost a complete cut for the meeting and more than two cuts by the end of the year. For the EUR/USD, the perspective of the relative policy of the central banks is critical and the EUR profits in the medium term will require a renewed support of the differentials through a higher assessment of the Fed. “
“In terms of the short -term data calendar, this week’s culminating point will be the preliminary PMIs scheduled for publication on Thursday and the figures of IFO business feeling, also scheduled for May 22.”
“The RSI is around 50, indicating a complete lack of impulse in any direction. The recent range has been defined by the maximum at the end of April at the top of 1.15 and the support last week below 1.11. The short -term support is expected to be in 1,1150 with expected resistance above 1,1350.
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.
