1.163
Today
+0.13%
5 Days
+0.39%
1 Month
+0.90%
6 Months
+0.10%
Year to Date
-1.00%
1 Year
-0.72%
Opening Price
1.161Previous Closing Price
1.161EUR/USD holds modest gains at the start of North American trading hours on Monday as a softer US Dollar (USD) and stronger-than-expected Eurozone Gross Domestic Product (GDP) data support the Euro (EUR).
Brown Brothers Harriman’s (BBH) Elias Haddad expects the European Central Bank (ECB) to deliver another 25 bps hike this week, taking the policy rate to 2.50%, supported by above-target Eurozone inflation and a firmer growth outlook.
The Euro (EUR) is marginally higher to near 1.1625 against the US Dollar (USD) during the European trading session on Monday. The major currency pair trades broadly sideways amid an extended weekend in the United States (US) due to Labor Day.
ING’s Chris Turner argues that Euro fundamentals remain contained despite German regional election results highlighting political tensions for Chancellor Merz’s CDU. Solid Eurozone growth and investor confidence are offset by downside risks from this week’s ECB meeting.
Commerzbank’s Thu Lan Nguyen argues that EUR/USD remains primarily driven by the US Dollar, with Euro-side developments only amplifying or dampening trends.
The Euro (EUR) trades flat against the US Dollar (USD) on Monday, hovering just above 1.1610 at the European session opening, following a reversal from the 1.1640 area last week.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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The upside prevails as long as 1.1586 is support, with 1.1641 and 1.1655 as targets
below 1.1586, expect 1.1563 and 1.1550.
The upside prevails as long as 1.1586 is support, with 1.1641 and 1.1655 as targets
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