Wrap-up:
EUR/USD Weekly analysis by MBCFX Technical Analysis Team
The euro bounced to $1.3033, supported by a strong demand for Spanish long-term bonds auctions. The single currency was also strengthened after the PPI data report showed that the inflation in U. S is still below the Fed 2.5% target, diminishing chances that the Fed will halt monetary easing anytime soon. The EUR/USD rally remains fragile as long as concerns over the euro zone economy and political instability in Italy persist.
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The euro bounced to $1.3033, supported by a strong demand for Spanish long-term bonds auctions. The single currency was also strengthened after the PPI data report showed that the inflation in U. S is still below the Fed 2.5% target, diminishing chances that the Fed will halt monetary easing anytime soon. The EUR/USD rally remains fragile as long as concerns over the euro zone economy and political instability in Italy persist.
