The Euro (EUR) is up a modest 0.2% against the US Dollar (USD) and entering Friday’s NA session with renewed support as it climbs back toward the upper end of this week’s range and pushes toward Tuesday’s fresh multi-year high, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
ECB comments remain neutral
"Sentiment appears to be dominating as markets ignore soft euro area PPI and unexpectedly weak German factory orders data. Comments from ECB President Lagarde and GC Villeroy have leaned neutral, though the latter has added to the chorus of policymakers highlighting the disinflationary impact of EUR strength. The outlook for relative central bank policy remains supportive as we look to a neutral ECB and a dovish Fed."
"The trend is bullish but momentum is overbought and EUR may be due for a near-term pause. The near-term range is bound between support around 1.1720 and resistance above 1.1820."
Related Articles
BEST ETFs to BUY in July 2025
TradingKey - After a sharp V-shaped recovery in April and choppy gains through May, U.S. stocks accelerated their rally in June despite escalating Middle East tensions. The S&P 500 and Nasdaq Composite hit fresh year-to-date highs, underscoring the market’s resilience.
Eurozone June Inflation Commentary: Mid-Term Bearish Outlook for the Euro, with Short-Term Rises Presenting Opportunities for Bears
TradingKey - On 1 July 2025, the Eurozone published its June inflation figures, which met market consensus: headline CPI edged up from 1.9% in May to 2.0%, while core CPI held steady at 2.3%.
Canada: Investment Opportunities in USD/CAD if Iran-Israel Conflict Reignites
TradingKey - Although the Iran-Israel conflict has subsided, a re-escalation could drive oil prices higher in the short term. As a major resource-exporting nation, the Canadian dollar (CAD) is closely tied to oil prices—higher oil prices typically strengthen the CAD.
Prediction! Federal Reserve Chairman Jerome Powell's Next Move Will Be an Interest Rate Cut
The Federal Reserve must balance the risks of higher inflation with the risks of higher unemployment when making decisions on interest rates.Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »*Stock prices used were..
Will Trump’s Tax Bill Benefit American Citizens? 3 Major Controversies: SALT, Medicaid Cuts, and Fiscal Deficits
TradingKey - Key questions remain: Does the U.S. still have room for further tax cuts amid its massive fiscal deficit? Will adjustments to the State and Local Tax (SALT) cap truly benefit ordinary Americans or merely enrich the wealthy? Can Congress and society accept the welfare cuts? Will the...
