1.165
Today
+0.04%
5 Days
-0.18%
1 Month
+2.53%
6 Months
-1.21%
Year to Date
-0.77%
1 Year
+0.10%
Opening Price
1.165Previous Closing Price
1.165The Euro (EUR) remains practically flat against the US Dollar (USD) on Thursday, with the weekly chart showing a mild bearish correction, as the rally from late July lows had reached overbought levels.
Danske Research Team notes that the United States (US) Personal Consumption Expenditures (PCE) Price Index inflation surprise triggered a hawkish market reaction, pushing US rates higher and weighing on EUR/USD. The pair dropped to 1.1650 as the US Dollar (USD) found support from stronger data.
The EUR/USD pair gains ground to near 1.1655 during the early European trading hours on Thursday. The Euro (EUR) strengthens against the Greenback on the hawkish stance of the European Central Bank (ECB). The US Initial Jobless Claims data is due on Thursday.
The EUR/USD pair edges higher to around 1.1655 during the early Asian session on Thursday. A hawkish stance of the European Central Bank (ECB) provides some support to the Euro (EUR) against the US Dollar (USD).
Scotiabank strategists Shaun Osborne and Eric Theoret report the Euro (EUR) is slightly softer versus the Dollar, with its late-July rally stalling as price action mirrors yield spreads.
EUR/GBP is trading around 0.8570 on Wednesday, on the front foot as hopes of a de-escalation in the Gulf hand the Euro (EUR) a modest lift.
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The downside prevails as long as 1.1685 is resistance, with 1.1634 and 1.1621 as targets
above 1.1685, look for 1.1707 and 1.1720.
The downside prevails as long as 1.1685 is resistance, with 1.1634 and 1.1621 as targets
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