The Euro (EUR) is holding a relatively tight trading range in the low 1.09 area, Scotiabank’s chief FX strategist Shaun Osborne notes.
EUR needs a break above 1.0950 to continue upwards
“German data reflected some mixed news for the economy. June Industrial Production rose a stronger than expected 1.4% in the month (although May data was revised lower) while the trade balance slipped in June with exports contracting 3.4% in the month.”
“The EUR ignored the data and continues to look relatively comfortable with the support of somewhat narrower eurozone/US yield differentials.”
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.