Commerzbank Research Team notes a significant decline in Oil prices, with Brent trading down over USD 4 from last week's close. The report attributes the drop to geopolitical tensions and production adjustments from OPEC+.
The two-year swap rate gap widened in favor of the Dollar, impacting the short-term fair value estimate for EUR/USD. Technical supports are identified near the 50-day moving average. Political stability in France is noted, but its impact on FX remains marginal, notes Francesco Pesole from ING.
The Euro (EUR) edges higher against the US Dollar (USD) on Tuesday, trading at 1.1815 at the time of writing after bottoming at 1.1776 the previous day.