EUR/USD changed course and fell in a week that saw central bank pressure from both sides. What lies on the road ahead? Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
Data in the euro-zone did not impress, with mixed PMIs and a slide in German confidence. But the trigger came from the central bank: ECB member Coeure hit the euro with talk about front-loading QE before the summer among other dovish comments. In the US, better than expected building data and still having the June hike option on the table helped the greenback recover against other currencies. Can the pair continue?
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