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: 2025.01.27
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EUR regains low 1.05 area - Scotiabank
Breaking news
EUR regains low 1.05 area - Scotiabank
New
2025.01.27 23:37
2025.01.27 23:37
2025.01.27 23:37
EUR/USD is holding close to last week's high, supported by some further narrowing in EZ/US spreads as US yields retreat. The 2Y gap has narrowed to -195bps, the narrowest since early November, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Lower US yields compress spreads
"Germany's IFO survey reflected a small improvement in the business climate reading for January while expectations eased slightly, reflecting an economy that continues to languish."
"Solid EUR gains through the low/mid 1.04 area last week are supporting a more positive technical undertone, at least in the short run. A deeper retracement of the EUR's Q4/Q1 slide towards the 106 area (38.2% retracement resistance sits at 1.0572) appears likely. Support is 1.0450/55."
Last updated
: 2025.01.27
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