The Euro (EUR) rises a modest 0.2% against the US dollar (USD) and enters Friday’s na session with a renewed support while approaching the upper end of this week’s range and moving towards the new maximum of several years on Tuesday, the Chief Strategies of FX of Scotiabank, Shaun Osborne and Eric Theoret report.
ECB’s comments remain neutral
“The feeling seems to be dominating while the markets ignore the weak IPP of the euro zone and the unexpectedly weak requests for German factories. The comments of the president of the ECB, Lagarde, and of the GC Villeroy have been neutral, although the latter has joined the choir of policy responsible that highlight the disinflationist impact of the strength of the EUR. Central banks is still favorable while looking at a neutral ECB and a moderate Fed. ”
“The trend is bullish, but the impulse is overcaps and EUR could be due to a short -term pause. The short -term range is limited between the support around 1,1720 and the resistance above 1,1820.”
Source: Fx Street
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