EUR/USD resumes the upside and approaches 1.1350, looks to Lagarde By pabspiovano EURUSD Currencies Majors ECB
ECB’s C.Lagarde due to speak later in the European morning.The single currency regains upside traction and motivatesEUR/USD leaves behind the pessimism seen at the beginning of the week and regains buying interest. Indeed, the pair bounces off Monday’s lows in the 1.1285/80 band to the mid-1.1300s, where some initial resistance turned up so far.
Minor releases in the euro area saw the Industrial Production in Span expanding 4.8% in the year to November and Retail Sales in Italy contracting at a monthly 0.4% also in November.is due to speak. Across the pond, Chief J.Powell will testify before the US Senate while the NFIB index and the IBD/TIPP index are also due.EUR/USD remains in a consolidation mode since late November, with gains capped by the proximity of the 1.1400 mark and the lower end offering contention around 1.1220.
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