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Three things driving the Euro right now
There have been a few subtle moves over the last few weeks, so here are some of the key points not to miss. USD strength: The EURUSD is sometimes nicknamed the ‘anti-dollar’ index because it moves exactly opposite to the Dollar Index. The bullish Fed speak from Clarida, Bullard, and the latest strong NFP jobs data have all led to expectations that a taper announcement is coming. This sentiment all weakens the EURUSD pair. New inflation target: The Euro has a weak bearish bias since the July meeting where the ECB put into place the action from their strategic review. Namely, a change of guidance of inflation. The ... (full story)