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EUR steady around 1.17 – Scotiabank
Ni FXStreet Insights Team
Petsa ng Pag-publish: 11 Jul 2025 | Petsa ng Pag-edit: 11 Jul 2025
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The Euro (EUR) is entering Friday’s NA session unchanged against the US Dollar (USD) as it outperforms most of the G10 currencies in an environment of broad-based USD strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The Euro (EUR) is entering Friday’s NA session unchanged against the US Dollar (USD) as it outperforms most of the G10 currencies in an environment of broad-based USD strength, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
EU avoids tariff letter for now
"The 1.17 level offered congestion through a relatively quiet week, data-wise, as the EUR navigated a steady barrage of trade-related headlines that ultimately left the EU unscathed – for now. Comments from the ECB remain neutral, as board member Schnabel stressed that there was a ‘very high’ bar for further easing. The short-term rates market continues to fade its pricing of cuts, and December is down to 21bpts of easing vs. 27bpts a week ago."
"The medium-term bull trend is intact, despite the latest defensive drift that we’ve observed following the multi-year high reached on July 1. The RSI has pulled back from overbought levels in the mid-70s and is softening toward 50. We continue to highlight the importance of medium-term support at the 50 day MA (1.1466). We see the near-term range bound between 1.1650 support and 1.1750 resistance."
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