Support and resistance
The EUR/USD has tried its best to bounce but is so far holding steady under the 1.1350 mark.
There are two key releases today that will impact the EUR/USD, namely the ECB Minutes and the earlier release of PMI.
PMI are often a good measure of the health of the economy and like most measure out of the Euro lately, the numbers have been on the slide.
Given the weakness and along with things such as sluggish inflation, there is really very little scope for Mario Draghi and his men to lift interest rates anytime soon.
In January, Draghi signaled he was in fact, worried about the health of the economy, and the minutes might well reflect that. But I wouldn’t expect to read any significant changes on the horizon.
The EUR/USD has tried its best to bounce but is so far holding steady under the 1.1350 mark.
There are two key releases today that will impact the EUR/USD, namely the ECB Minutes and the earlier release of PMI.
PMI are often a good measure of the health of the economy and like most measure out of the Euro lately, the numbers have been on the slide.
Given the weakness and along with things such as sluggish inflation, there is really very little scope for Mario Draghi and his men to lift interest rates anytime soon.
In January, Draghi signaled he was in fact, worried about the health of the economy, and the minutes might well reflect that. But I wouldn’t expect to read any significant changes on the horizon.