EUR flat and ignoring stronger ZEW – Scotiabank

Source Fxstreet

Euro (EUR) is quietly trading within an incredibly tight range, consolidating in the mid-1.15s just below its recent multi-year highs, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.

Geopolitical tensions present a modest downside risk for EUR

"Stronger than expected ZEW investor sentiment figures were released with no meaningful reaction, and we note the absence of any major economic data releases scheduled for the remainder of the week. The ECB speaking schedule remains heavy, and President Lagarde is set to speak on Thursday."

"The outlook for relative central bank policy will remain a focus as markets assess the ECB’s gradual shift to neutral and contrast it with the Fed. Geopolitical tensions present a modest downside risk for EUR, given that the EUR is a modestly pro-risk currency unlike its G4 haven peers USD and JPY."

"The trend is bullish, as EUR’s latest multi-year highs have followed a clear trend of higher lows and higher highs following its February bottom. The 50 day MA (1.1343) represents an important level of medium-term support, while major resistance appears limited ahead of the 1.1680-1.1700 area. We await a break of the latest, short-term range roughly bound between 1.15 and 1.16."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Samsung Electronics Forecasts Stronger-Than-Expected Q3 Profit on AI Demand Samsung forecasts Q3 profit of 12.1 trillion won, boosted by strong AI chip demand.
Author  Mitrade
Oct 14, Tue
Samsung forecasts Q3 profit of 12.1 trillion won, boosted by strong AI chip demand.
placeholder
Dollar Gains as US-China Trade Tensions Ease The U.S. dollar remained steady on Tuesday following a shift in President Donald Trump’s harsh stance on tariffs against China.
Author  Mitrade
Oct 14, Tue
The U.S. dollar remained steady on Tuesday following a shift in President Donald Trump’s harsh stance on tariffs against China.
placeholder
Asian Stocks Mixed as Commodities Pause and Yen Draws AttentionAsian equity markets struggled to close the week on a weak note Friday, influenced by ongoing losses on Wall Street that extended into early Asian trading.
Author  Mitrade
Oct 10, Fri
Asian equity markets struggled to close the week on a weak note Friday, influenced by ongoing losses on Wall Street that extended into early Asian trading.
placeholder
Oil Prices Hold Steady Amid Gaza Ceasefire and US Sanctions Oil prices held steady in early Asian trading on Friday following the announcement of a ceasefire between Israel and Hamas.
Author  Mitrade
Oct 10, Fri
Oil prices held steady in early Asian trading on Friday following the announcement of a ceasefire between Israel and Hamas.
placeholder
Bitcoin drops below $110K ahead of $22B options expiry; altcoins tumbleBitcoin fell below the $110,000 mark on Friday, heading for a steep weekly loss as nearly $22 billion in cryptocurrency options were set to expire. The drop also comes as traders await key U.S. inflation data that could influence the Federal Reserve’s policy outlook.
Author  Mitrade
Sept 26, Fri
Bitcoin fell below the $110,000 mark on Friday, heading for a steep weekly loss as nearly $22 billion in cryptocurrency options were set to expire. The drop also comes as traders await key U.S. inflation data that could influence the Federal Reserve’s policy outlook.
Related Instrument
goTop
quote