EUR/USD: Bounce higher – Danske Bank
|Jens Nærvig Pedersen, senior analyst at Danske Bank, explains that the EUR/USD pair has bounced around in the range of 1.1282-1.1313 over the past day, where stronger data releases, first the better-than-expected ZEW reading yesterday, where the higher expectations component does provide some ray of light for the euro zone economy, and later the stronger Q1 growth data out of China, pushed the pair higher.
Key Quotes
“Those gains were balanced by the relatively downbeat and dovish ECB headlines. For EUR/USD, the big test will be tomorrow, when April’s flash PMIs are released. We look for another disappointment tomorrow, which could send EUR/USD down some 50-70 pips on the day.”
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.