EUR: Trading under pressure against the dollar – BBH

Sandeep Kanihama FXStreet Contributor

Analysts at BBH explains that the euro is lower for the third session against the greenback and after last Friday; the euro snapped a three-day slide and has now retraced 61.8% of its bounce (~$1.0550).

Key Quotes

“The euro was unable to resurface above $1.06 in North America yesterday, and this will likely continue to cap the single currency ahead of the ECB meeting tomorrow. The strong German (January 2.8% and December revised to -2.4% from -3.0%) and Spain (0.3% vs. consensus 0.2%) were largely ignored by the market. There had been some talk last week that the ECB could alter its forward guidance at tomorrow's meeting, but most seem to be downplaying the likelihood in recent days.”

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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