There were no major data reports today and, with central bankers on the beach, there have been no comments from monetary policymakers, he notes. Shaun Osbornechief FX strategist at Scotiabank.
Gains above 1.0940/50 will see the spot progress towards 1.10+
“The Euro (EUR) is modestly firmer on the session but remains well within recent ranges. Flows, technicals and external factors are the main drivers for the EUR also in the near term.”
“Despite trading well below last week’s high, broader spot trends still look relatively bullish for EUR. Short-term trends are flat, however, and EUR needs to gain some more ground again—soon—to reinvigorate underlying bullish trends.”
“Profits through minor resistance at 1.0940/50 should see progress towards 1.10+. Support is at 1.0875/85.”
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.
