EUR/USD had an interesting trade at the turn of the quarter, eventually jumping higher but unable to hold the gains once again. The ECB’s meeting minutes as well as industrial figures will set the tone. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
The euro-zone fell back into deflation but core figures remained stable, allowing Draghi some breathing space. Draghi did see economic growth rising but refrained from monetary policy hints. Elsewhere, Spain’s success story seems to fade with higher unemployment and disappointing manufacturing. In the US, data disappointing, with a nightmare NFP report, that sent the pair shooting higher coming back down towards the middle of the range.
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