Here is an overview of the broad macro considerations for the euro, with some thoughts about the price action, including volatility. It is shared not so much as an argument as a sketch the considerations that drive a view. 1. An 18-month low for the euro was set on April 26 a little above $1.11, immediately after the US reported a stronger than expected Q1 GDP report. The euro has been consolidating here in May and has been unable to rise above the $1.1265 area on two attempts. 2. The eurozone economy appears to have stabilized after slowing in 2018. Surveys have been weaker than hard data. Inflation appears to have ... (full story)