- The dollar remains strong in a context of caution in the markets.
- EUR / USD with bearish bias, pointing to support at 1.1760.
The EUR / USD bounce was not enough to push the euro firmly above 1.1800. After reaching 1.1802, the pair changed direction and fell to 1.1776, approaching the lows of the European session (1.1771) and the key support that is located at the 1.1760 area.
The A climate of risk aversion in the markets continues to give general support to the dollar. The dollar index rises for the fourth day in a row and operates at highs since the beginning of April above 93.00. The best performing currency these days is still the Japanese yen.
The focus remains on what is happening with the stock markets, which are bouncing slightly today and also in the bond market. The sharp drop in Treasury yields is reflecting greater fears for economic expectations than for inflation. The 10-year rate fell to 1.17%, the lowest since February; being that days ago it was at 1.50%.
The key event ahead this week is the meeting of the European Central Bank (ECB) on Thursday. Shopping program data will be released today for the week ending July 16.
Technical levels
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