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Sep 09 - 02:55 AM

EUR/USD - Bigger German Trade Surplus Lifts EUR/USD Off Lows Ahead ECB

By Jeremy Boulton  —  Sep 09 - 02:19 AM
  • German trade surplus grows to Feb EUR 17.9 bln in July as imports shrink

  • EUR/USD trades a tight 1.1812-25 EBS range ahead ECB meeting

  • Pair weighed near low of this week's 1.1802-88 range

  • Slightly elevated within Aug-Sep 1.1664-1.1909 range

  • Daily cloud 1.1833-1.2007 weighing, 55-DMA 1.1810 props

  • EUR 3.2 billion expiries 1.1800-1.1900 today, 4.7bln between 1.1750-1.1800

  • ECB shock needed to jolt pair out of another likely tight range

  • ECB may dial back support but won't take it away just yet nL8N2QA2JP



German surplus Click here

EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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