EUR/USD extends the rally and targets 1.0600 – by pabspiovano EURUSD Currencies Majors
The EMU Sentix Index surprises to the upside in December.The optimism around the European currency remains well and sound and liftsEUR/USD advances for the fourth consecutive session and extends further the recent breakout of the key 200-day SMA , approaching at the same time the 1.0600 neighbourhood.
Data wise in the broader Euroland, the Investor Confidence tracked by the Sentix Index ticked higher to -21.0 for the current month, while November’s final Services PMI dropped marginally to 48.5. In Germany, the final Services PMI receded to 46.1 during last month. Back to the euro area, the increasing speculation of a potential recession in the bloc emerges as an important domestic headwind facing the euro in the short-term horizon., Germany Final Services PMI, EMU Retail Sales, Final Services PMI - Germany Construction PMI – EMU Flash Q3 GDP Growth Rate – ECB Lagarde .: Continuation of the ECB hiking cycle vs. increasing recession risks.
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