EUR/USD picks up pace and retargets the 1.0900 region ahead of PMIs – by pabspiovano EURUSD Currencies Majors
ECB Lagarde, af Jochnick speak later in the session.Bulls remain in control of the sentiment around the European currency and motivatesFollowing Monday’s marginal gains, EUR/USD picks up extra pace and extends further the march north to the proximity of the 1.0900 mark on turnaround Tuesday. So far, the pair navigates the third consecutive week with gains after shedding ground at the very beginning of the new year.
In the domestic calendar, Consumer Confidence in Germany tracked by GfK improved to -33.9 for the month of February. Later in the European morning, the advanced prints for the Manufacturing and Services PMIs in the euro area and the US economy will be in the limelight. In addition, ChairEUR/USD flirts once again with the 1.0900 neighbourhood following Monday’s climb to new 9-month peaks.
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 GfK Consumer Confidence, France Business Confidence, ECB Lagarde, EMU/France/Germany Advanced Manufacturing/Services PMIs – Germany Ifo Business Climate – Italy Business Confidence – France Consumer Confidence, ECB Lagarde .
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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