Mathias Mogensen, Analyst at Danske Bank, assessed the main drivers for the pair ahead in the week.
“EUR/USD was slightly up after the mixed-to-slightly-negative US payrolls report and Powell’s gradual-hikes-warranted speech on Friday; the cross has proved somewhat immune to trade issues in recent weeks but if an escalation takes place amid deteriorating data outside of the US and a healthy start to the US earnings season, it could deliver a (temporary) USD revival”.
“Other than Trump and trade, focus this week on minutes from both the latest FOMC and ECB meetings; any comments from the Fed on USD liquidity issues and/or from the ECB regarding timing of the next ‘exit’ step will be of interest to the FX market”.
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