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The economic calendar is relatively quiet for today. This comes ahead of a busy week that includes an ECB meeting. The US advance GDP report will also be coming out which will move the markets. Over the weekend, tensions at the Strait of Hormuz and Iran have dented the market sentiment a bit. Besides the trade wars, US and Iran tensions will also keep the market sentiment in check.
Euro Holds Ahead of ECB Meeting
The euro currency was seen erasing the gains on Friday as the currency pair turned flat for the week. The direction in the EURUSD is dictated by both the ECB’s expected policy decisions as well as the Fed. On Friday, the UoM’s consumer sentiment survey showed expectations falling to 98.4 from 98.6 previously. But the EURUSD was muted by and large.
EURUSD to Hold the Sideways Range
The currency pair is expected to remain range-bound in the short term. Price action continues to remain flat as the c...
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