EUR/USD to regain more solid ground above 1.0525 – Scotiabank
|EUR/USD regains 1.05 area. Economists at Scotiabank to extend its stretch higher above the 1.0525 zone.
Underlying trend signals are tilting bullish
“Relatively resilient growth and stubborn inflation expectations (the ECB’s Oct survey showed a rise in 12m inflation expectations to 5.4%, from 5.1%) will keep policy makers in tightening mode (50 bps priced in for the Dec 15th meeting), underpinning the EUR.”
“Underlying trend signals are tilting bullish, which is helping limited EUR drawdowns and bolster support on weakness.”
“Support is 1.0430/35. Resistance above 1.0525 is 1.0595/00.”
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