EUR up modestly, with focus on ECB/Fed outlook – Scotiabank

Source Fxstreet

Euro (EUR) is up 0.2% vs. the US Dollar (USD) and a mid-performer among the G10, extending its recovery from last week’s geopolitically-driven pullback, Scotiabank's Chief FX Strategist Shaun Osborne notes.

Market participants eye this week’s Fed meeting

"The recovery in risk appetite is important, however the EUR’s fundamental underpinnings are critical as market participants eye this week’s Fed meeting and its implications for relative central bank policy. "

"A good portion of the EUR’s recent rally has been provided by the ECB’s ongoing shift toward neutral, and further strength has resulted from a slightly more dovish adjustment in expectations for the Fed. This week’s data highlight will be Tuesday’s ZEW sentiment figures, along with another heavy week of ECB speaking engagements."

"The trend is bullish, delivering a push to fresh multi-year highs and a break above 1.16. The RSI is confirming and showing renewed bullish momentum, climbing toward the mid 60s while still offering some room for gains ahead of the overbought threshold closer to 70. The 50 day MA (1.1332) remains an important medium-term support level. The near-term range is likely to be bound between 1.1500 support and 1.1650 resistance."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin Outlook 2025As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.
Author  TradingKey
Jan 23, Thu
As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.
placeholder
WTI moves above $64.50 due to odds of Saudi Arabia raising August Oil prices for AsiaWest Texas Intermediate (WTI) Oil price gains ground for the second successive session, trading around $64.60 during the European hours on Tuesday.
Author  FXStreet
Jul 01, Tue
West Texas Intermediate (WTI) Oil price gains ground for the second successive session, trading around $64.60 during the European hours on Tuesday.
placeholder
Dogecoin Closes June In The Red With 14% Losses, Will July Be Any Better?With the close of June, the Dogecoin price has once again confirmed the bearish trend of the month.
Author  Bitcoinist
Jul 02, Wed
With the close of June, the Dogecoin price has once again confirmed the bearish trend of the month.
placeholder
Solana (SOL) Cools After Recovery — Resistance Proving Difficult to CrackSOL price is now correcting gains and might struggle to rise above the $155 resistance.
Author  NewsBTC
Jul 04, Fri
SOL price is now correcting gains and might struggle to rise above the $155 resistance.
placeholder
Silver Price Forecast: XAG/USD consolidates right below $37.00 in risk-off marketsSilver consolidates the previous two days' gains and remains pinned near $37.00.
Author  FXStreet
Jul 04, Fri
Silver consolidates the previous two days' gains and remains pinned near $37.00.
Related Instrument
goTop
quote