EURO (EUR) is soft, drop by 0.2% vs. US dollar (USD) and trading below 1.13 with an extension of Wednesday’s decline in controlled Fed, notes the main strategist Scotiabank Shaun Osborne.
EUR/USD remains bound
“As with CAD, view For the relative policy of the central bank dominates as a driver close to the price action for Eurusd And 2y yield span has also expanded (in a negative way) over the last week of about 20 PPS. ”
“In terms of data, data on the industrial production of German for March were much stronger than expected, while an unexpectedly large trade surplus was flattered by an unexpected contraction in import – a negative sign of internal domestic demand.
“EUR/USD remains tied and its movement since mid -April has been limited between support in mid 1.12 and resistance over 1.15.
