The Euro (EUR) is soft, down 0.3% against the US dollar (USD) and a mid -performer in the middle of the G10 in an extensive USD Strength, Shaun Osborne strategic strategic strategic strategic strategic.
EUR is soft in the sun
“Secondary-tier confidence data is extensive (though marginally) failed as ECB's CPI expectations deliver an unexpected increase. The tone from the ECB is widely irritating, and it would be interesting to see (if, and) how these inflation figures were discussed.
“The trend is bullish but the momentum has softened, reflecting the nearly three weeks scope that saw a movement bound between the mid-1.12s support and the mid-top/top-1.15s resistance.”
