EUR/USD saw more storms in the first week of September moving on top tier events from both sides of the Atlantic. A mix of German and French data awaits us now. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.
Draghi dragged the euro down by lowering forecasts, loosening bond buying rules and getting ready to do more. He elegantly joined the currency wars without committing to a big move. The euro continued trading as a safe haven, rising with stock market falls and falling when things became calmer. PMIs were not so convincing but unemployment fell. Will this continue weighing on the euro? A lot depends on the US, which is awaiting the Fed after the NFP, which was quite mixed. Let’s start:
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