Citibank: Dovish ECB weighing on EUR

Sandeep Kanihama FXStreet Contributor

According to analysts at Citibank, appetite of EUR has been impacted by the most recent dovish ECB meeting, leading to the tightening of flagship EUR debt (10y German Bunds) to 0.10%.

Key Quotes

“A key element for Citi Analysts positive Euro outlook is the normalisation of ECB monetary policy, this compounded with weaker recent data releases from the Eurozone weighs on near term outlook.”

“EUR/USD has been trading around 1.1290 support, a key level that if EUR closes below at end of this week could signal further declines

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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