Morning briefing: EUR/USD remains capped below 1.1700
Today's session has not been particularly favorable for the euro. Recent EUR/USD price action shows a decline of approximatel.
Euro: Rally stalls against US Dollar as spreads drive trade – Scotiabank
Euro comes under pressure against US Dollar after mixed US PCE data
Lower energy prices are providing a supportive environment for European markets, with the DAX extending its gains and the euro holding largely in a holding pattern. The decline in oil prices has also helped longer-dated US Treasuries, pushing yields lower as concerns over inflation have eased somewhat.
Euro: ECB tightening outlook offers support against US Dollar - BNY
EURUSD remains in extended consolidation under new 3 ½ month high (1.1711) with action holding above broken Fibo barrier at 1.1648 (61.8% of 1.1849/1.1324 descend) that maintains bullish bias (despite initial negative signals from long upper shadows on Thu/Fri daily candles) and keeps the upside in focus. Daily studies keep strong positive momentum, with multiple MA bull-crosses and converged 10/200DMA on track to form golden cross, underpinning the action.
Crude oil prices are falling for a third straight day as signs of diplomatic progress in the Middle East reduce some of the supply-risk premium built into prices.
Euro: Schnabel's upbeat tone supports against US Dollar – ING
DXY remains bearish below 99.41 as traders await U.S. PCE and Kevin Warsh's Jackson Hole speech, while EUR/USD and GBP/USD hold firm.
Euro: Holds near 1.1670 against US Dollar as rate moves offset - Danske Bank
Euro: Upside bias toward 1.1725 against US Dollar – UOB