- Analytics
- News and Tools
- Market News
- EUR/USD: Still capped in mid-1.05s – Scotiabank
EUR/USD: Still capped in mid-1.05s – Scotiabank
The Euro (EUR) is moderately higher on the session, with gains retesting recent peaks around 1.0540 before easing, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
EUR firmer on hawkish Schnabel comments
“Hawkish comments from ECB Governor Schnabel that the central bank needed to be cautious about cutting rates too far as policy is nearing neutral helped give the EUR a lift.”
“The EUR may gain a little more in the near term as positioning is lightened up around the US Thanksgiving break but scope for significant gains remains limited. My fair value estimate for EURUSD is little changed today at 1.0427.”
“EUR gains from last week’s low continue to pressure the mid-1.05 area after breaking above minor trend resistance off the early November high around 1.09. Moderate gains may extend a little further towards the 1.0600/50 zone if a clear push above 1.0550 develops.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
