Select Language

EUR little changed on the day - Scotiabank

Breaking news

EUR little changed on the day - Scotiabank

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2024.09.10 21:15
EUR little changed on the day - Scotiabank

update 2024.09.10 21:15

EURUSD is all but unchanged, Scotiabank's Chief FX Strategist Shaun Osborne notes.

US event risk and ECB dull interest

"Spot levels have held close to yesterday's closing rate with no incentive to extend ranges ahead of US event risks and the ECB on Thursday. Germany released final August CPI data which was unchanged from the preliminary data (1.9% Y/Y). A 25bps cut is widely expected Thursday and fully priced in. President Lagarde may be reluctant to give much at all away in terms of the outlook for further easing at this point."

"Negative daily and weekly price signals in EURUSD over the past couple of weeks have negated the positive undertone in spot but, with trend momentum signals s till leaning bullish, these developments have not triggered any significant reversal in the EUR--at least not yet."

"That is clearly a risk but, for now, the EUR is well-supported in the low 1.10s, close to the 1.1040 level which is the 38.2% retracement of the August rally. A clearer push below here targets the mid/upper 1.09s. Resistance is 1.1075/85."


Date

Created

 : 2024.09.10

Update

Last updated

 : 2024.09.10

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

India Gold price today: Gold rises, according to FXStreet data

Gold prices rose in India on Friday, according to data compiled by FXStreet.
New
update2024.09.20 13:36

USD/CAD struggles near 1.3555 area, just above two-week low amid bearish USD

The USD/CAD pair struggles to gain any meaningful traction during the Asian session on Friday and currently trades around the 1.3555 region, well within the striking distance of a nearly two-week low touched the previous day.
New
update2024.09.20 13:34

AUD/JPY attracts some sellers to near 97.00 as BoJ maintains rates steady

The AUD/JPY cross loses ground around 97.05, snapping the four-day winning streak during the Asian trading hours on Friday.
New
update2024.09.20 13:19

GBP/JPY falls to near 189.00 following the BoJ interest rates decision

GBP/JPY breaks its four-day winning streak, trading around 189.00 during the Asian session on Friday.
New
update2024.09.20 12:59

GBP/USD Price Forecast: Bulls retain control near 1.3300 mark, highest since March 2022

The GBP/USD pair trades with a positive bias for the third straight day on Friday and hovers around the 1.3300 mark during the Asian session, just below its highest level since March 2022 touched the previous day.
New
update2024.09.20 12:54

Australian Dollar recovers losses following PBoC interest rates decision

The Australian Dollar (AUD) recovers its daily losses and extends its winning streak against the US Dollar (USD) following the interest rate decision by the People's Bank of China (PBoC) on Friday.
New
update2024.09.20 12:14

EUR/JPY slides to mid-158.00s after BoJ policy decision, lacks follow-through

The EUR/JPY cross ticks lower after the Bank of Japan (BoJ) announced its policy decision this Friday and moves away from over a two-week high, around the 160.00 psychological mark touched the previous day.
New
update2024.09.20 12:12

NZD/USD flat lines around 0.6235-6240 area, remains close to monthly top set on Thursday

The NZD/USD pair seesaws between tepid gains/minor losses through the Asian session on Friday and currently trades around the 0.6235-0.6240 region, well within the striking distance of the monthly peak touched the previous day.
New
update2024.09.20 11:52

Japan's Suzuki: Will continue to monitor, analyze impact of US rate cut on Japanese economy, financial markets

Japan's Finance Minister Shunichi Suzuki said on Friday that he "will continue to monitor and analyse impact of latest US rate cut on Japanese economy and financial markets." "FRB's view on US economy in line with Japanese government's view that the US economy is likely to expand," he added.
New
update2024.09.20 11:31

USD/INR weakens as likely inflows boost Indian Rupee

The Indian Rupee (INR) extends its upside on the weaker US Dollar (USD) on Friday.
New
update2024.09.20 11:22

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel