EUR/USD SCRAMBLES TO RECOVER LOST GROUND NEAR 1.05
- EUR/USD caught a much-needed bullish bounce on Monday.
- Euro-focused economic data remains limited until Friday.
- Key US inflation and growth figures land just in time for the US holiday.
EUR/USD scrambled for higher ground on Monday, clipping back into the 1.0500 handle amid a broad-market relaxing of Greenback bidding as investors step back into a risk-on mood, albeit with limited impact. Overall market flows are set to be crimped this week with the back half of the week’s US market sessions hobbled by the impending US Thanksgiving holiday on Thursday and limited market hours on Friday.
This week sees a firm drought of EU-based datapoints through most of the week, with a fresh round of European Harmonized Index of Consumer Prices (HICP) inflation slated for Friday. Preliminary pan-EU HICP inflation for November is set to swing higher on an annualized basis, a looming threat that European Central Bank (ECB) policymakers have been scrambling to get out in front of. According to ECB officials, a near-term uptick in broad EU inflation metrics shouldn’t be a cause for concern for investors.
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