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- EUR/USD: eyeing NFP; tactically neutral ahead of 1.1100 handle - MUFG
EUR/USD: eyeing NFP; tactically neutral ahead of 1.1100 handle - MUFG
MUFG Research discusses EUR/USD tactical outlook and adopts a neutral bias expects the pair to maintain its recent 1.08-1.11 range in the near-term.
"One key event for EUR/USD in the week ahead will of course be the payrolls report from the US. The euro has rallied modestly on the back of the weaker than expected ISM Manufacturing print and if that weakness was evident in the jobs report tomorrow, it would likely prompt a further rally for EUR/USD. Talks next week between the US and China will probably be the key macro event of the week but we are sceptical of this providing a catalyst for any notable shift in sentiment and trade uncertainties are set to persist..With the euro-zone calendar very light next week, we expect a relatively narrow trading rang," MUFG adds.
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