XE Market Analysis: North America – Jul 24, 2017

EUR-USD settled under 1.1650 after drifting lower from the London open, putting in some space from the Asia-session 23-month high at 1.1684. Softer than expected Eurozone PMI readings in flash estimates for June weighed on the common currency. Reuters also reported an unnamed source saying that the ECB is won’t making a decision on the QE tapering schedule until its October meeting, with policymakers wanting to wait until after the German election in late September. These developments have given the market a narrative to work EUR-USD lower.

Source: XE news feed
XE Market Analysis: North America – Jul 24, 2017