EURUSD: Stabilization efforts amid upcoming ECB meeting – Scotiabank
|The EUR is attempting to stabilize after last week's rally and pullback, with key fundamentals expected to emerge this week. The ECB's policy decision is anticipated to maintain a neutral outlook, while yields spreads are recovering, note Shaun Osborne and Eric Theoret from Scotiabank.
EUR outlook ahead of ECB
"Fundamentals are expected to make a comeback this week, given that the calendar includes preliminary CPI data on Wednesday and the ECB policy decision on Thursday."
"A hold is widely anticipated on Thursday, and President Lagarde is likely to continue signaling two sided risks to growth and inflation."
"We see additional support closer to 1.18, and note the absence of any material resistance ahead of 1.20."
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