FXStreet (Edinburgh) – The upbeat momentum in the single currency has run out of steam in the 1.1215 area overnight, with EUR/USD now hovering over 1.1190/1.1200.
EUR/USD focus on the US calendar
Spot continues to meander around the 1.1200 area at the beginning of the week, trading a tad lower than overnight peaks in the 1.1220 region. Market chatter
about the possibility of the ECB modifying the current QE programme seems to be now in the back burner, with the attention returning to the USD-dynamics.
Ahead in the day, US data will take centre stage as Personal Income/Spending, PCE, Pending Home Sales and the Dallas Fed manufacturing index are due. In addition, and following the recent FOMC decision, Fed’s Tarullo, Evans, Dudley and Williams will speak this afternoon.
EUR/USD levels to watch
As of writing the pair is up 0.01% at 1.1192 with the next hurdle at 1.1215 (high Sep.28) followed by 1.1234 (high Sep.25) and then 1.1296 (high Sep.24). On the downside, a breach of 1.1164 (low Sep.28) would open the door to 1.1105 (low Sep.23) ahead of 1.1089 (low Sep.4).
(Market News Provided by FXstreet)