EUR/USD meets some resistance just above 1.0700 – by pabspiovano EURUSD Currencies Majors
The pair looks to extend the bounce of Friday’s monthly lows.The single currency clings to the recent bullish move and encouragesEUR/USD alternates gains with losses amidst the equally vacillating mood in the global markets on Monday and attempts to extend the bounce off February lows near 1.0600 the figure recorded on Friday.
The recent pullback in spot, in the meantime, came against the backdrop of further hawkish remarks from Fed’s policy makers vs. some doubts regarding the rate path that emerged amidst ECB’s rate setters past the March gathering.space, the focus of attention will be on the publication of the advanced Consumer Confidence in the euro bloc tracked by the European Commission .EUR/USD regains some traction on Monday, although it appears to have met quite a solid hurdle around the 1.0700 mark.
Back to the euro area, recession concerns now appear to have dwindled, which at the same time remain an important driver sustaining the ongoing recovery in the single currency as well as the hawkish narrative from the ECB.
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