E/U is down on a daily basis, trading near the 1.1900 figure as demand for the greenback picked up ahead of the US opening. Major pairs had spent the first half of the day consolidating within familiar levels,
with the limited trading range exacerbated by the absence of macroeconomic releases.
In the EU, ECB’s Robert Holzman said there’s no room to increase rates given weak inflation, adding that the PEPP will end when the coronavirus emergency is over, something that won’t happen anytime soon. The facilities program will be revised in September. The US has a quiet today, as it will only publish the Dallas Fed Manufacturing Business Index for June.he near-term picture is bearish, despite a limited directional momentum. The 4-hour chart shows that the pair has finally slid below a flat 20 SMA after struggling around it since Friday. Technical indicators hover around their midlines, turning marginally lower.
with the limited trading range exacerbated by the absence of macroeconomic releases.
In the EU, ECB’s Robert Holzman said there’s no room to increase rates given weak inflation, adding that the PEPP will end when the coronavirus emergency is over, something that won’t happen anytime soon. The facilities program will be revised in September. The US has a quiet today, as it will only publish the Dallas Fed Manufacturing Business Index for June.he near-term picture is bearish, despite a limited directional momentum. The 4-hour chart shows that the pair has finally slid below a flat 20 SMA after struggling around it since Friday. Technical indicators hover around their midlines, turning marginally lower.