EUR strengthens as policymakers speak to end of ECB easing cycle – Scotiabank
|Euro (EUR) is up 0.5% vs. the US Dollar (USD) and a mid-performer among the G10 in an environment of broad-based USD weakness, Scotiabank's Chief FX Strategist Shaun Osborne notes.
EUR/USD is climbing but has not yet broken to fresh highs
"The focus on government bond markets and US fiscal developments is likely providing the EUR with some relative strength as market participants also consider the shifting messaging from the ECB. Policymakers remain dovish but appear to be focusing on the end of the easing cycle. Fundamentally, the highlight for EUR this week will be Thursday’s release of preliminary PMI’s, as well as Germany’s IFO business sentiment release."
"EUR/USD is climbing but has not yet broken to fresh highs. The RSI is bullish but still well below 70, leaving ample space for further near-term gains. We look to possible near-term resistance around 1.14 ahead of the recent highs in the upper-1.15s. Support is expected closer to 1.11."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.