EUR/USD regains the smile above 0.9700 – by pabspiovano EURUSD Currencies Majors
The dollar looks slightly bid above the 113.00 hurdle on Tuesday.seems to have met some contention in the 0.9670 zone and now attempts to regain the 0.9700 barrier and above.EUR/USD gives some signs of life after four consecutive daily declines and clings to the 0.9700 region on turnaround Tuesday.
In the domestic calendar, Italian Industrial Production will be the sole release seconded by speeches by ECB’s A.Enria and P.Lane. Across the pond, FOMC’s Harker and Mester are also due to speak in an otherwise empty docket.EUR/USD’s leg lower seems to have met some initial contention in the 0.9670/65 band so far this week.
Furthermore, the increasing speculation of a potential recession in the region - which looks propped up by dwindling sentiment gauges as well as an incipient slowdown in some fundamentals – adds to the sour sentiment around the euro: EMU Industrial Production, ECB Lagarde – Germany Final Inflation Rate – EMU Balance of Trade .: Continuation of the ECB hiking cycle vs. increasing recession risks.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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