EUR/USD: The euro’s bleeding – TDS
|EUR/USD is set to lower towards the 1.0780 support in the opinion of analysts at TD Securities. The Federal Open Market Committee (FOMC) and US Housing Starts data are the main events of the day.
Key quotes
“Though the USD runs a bit rich on our tactical dashboard, the discount is not large enough to have us reconsider its appeal. As a result, we are inclined to see EUR/USD's bleed lower continue with 1.0710/80 support range now in view.”
“The FOMC meeting minutes will lead the U.S. economics calendar on Wednesday. We believe the minutes are unlikely to include any major new revelations on the near-term outlook. However, they will likely include an update on the review being conducted by the Fed. We expect the review to result in the adoption of some form of average inflation targeting, which is dovish given sub-2% inflation.”
“Lastly, we forecast a decline in housing starts to a 1,430K AR in January from an exaggerated 160K in December.”
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.