The euro (EUR) is weak, entering the session on Monday with a slight decrease against the US dollar (USD) and surrendation against most of the G10 currencies in a quiet trade, says Shaun Osborne, head of Scotiabank’s head of FX.
ECB’s comments continue to be moderate
“The preliminary publication of the IPC of the euro zone is the climax this week and is scheduled for Friday. The ECB speeches calendar is also something dense and the comments of the Knot Governing Council and Villery have been moderate, pointing out uninflationary forces.”
“The upward trend in EUR/USD remains intact despite this last generally limited consolidation between 1.13 and 1.15. The impulse has softened something, but the RSI remains well above the threshold of 50 in 62.”
Source: Fx Street
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