Euro losses some traction and retreats from recent peaks around 1.0970 – by pabspiovano EURUSD Currencies Majors SEO
comes under some mild downside pressure on Monday and gives away part of last week’s gains to the 1.0970 region, or multi-week highs,with investor’ adjustment to the recent hawkish messages from both the European Central Bank and the Federal Reserve., as well as many of her colleagues at the Governing Council, already advocated for an extra quarter-point rate raise in July, while Chief Jerome Powell also left the door open to a similar move at the July 26 gathering.
In the domestic data space, ECB P. Lane, A. Enria and L. De Guindos will be in the centre of the debate later in the session, while the housing market will be in the limelight in the US calendar following the release of the NAHB Housing Market Index for the month of June.The US Dollar rebounds from last week’s lows in the 102.00 zone.Fed’s J. Powell’s testimonies will be the salient events later in the week.
If the bears take control, there is a temporary support at the 55-day SMA at 1.0881. If this level is breached, there are no significant levels of support until the May low of 1.0635 prior to the March low of 1.0516 and the 2023 low of 1.0481 .Information on these pages contains forward-looking statements that involve risks and uncertainties.
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