Euro trades soft as EUR/USD consolidates – Scotiabank
|The Euro (EUR) is soft within its recent range while still trading just above the Friday/Monday lows, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
EUR holds range despite mixed Eurozone data
"Second-tier industrial production figures for the euro area came in better than expected, and Germany’s 2025 fiscal deficit surprised to the downside. France’s final CPI figures were in line with the preliminaries, offering little for policymakers as they prepare for the next ECB decision on February 5th."
"Recent comments from ECB policymakers have leaned more decidedly neutral, shedding the marginally hawkish shift that had been observed in the aftermath of the December meeting. Yield spreads are steady, and risk reversals are providing added support."
"The EUR’s recent pullback has evolved into a consolidation around the 50 day MA (1.1662) with a near-term range bound between 1.1620 support and 1.1700 resistance. We are neutral looking to continued near-term consolidation."
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.