Scotiabank analysts Shaun Osborne and Eric Theoret observe that the Euro is seeking stability following last week’s volatile price action. With the market shifting its focus back to fundamental drivers, two major events are on the radar: Wednesday’s preliminary CPI data and Thursday’s European Central Bank (ECB) policy announcement.
While the ECB is widely expected to keep rates unchanged, President Christine Lagarde is anticipated to maintain a balanced stance, highlighting two-sided risks to both economic growth and inflation. From a technical perspective, Scotiabank identifies solid support near 1.18, with a lack of significant resistance until the pair reaches the 1.20 handle
