Testing 1.06 as Traders Await President LagardePrice action in the FX space has been relatively choppy, which is despite the sizeable moves observed in rates, commodities and equities over recent trading sessions. That being said, as we approach month/quarter/half-year end, noisy price action is likely to persist a little longer. Aside from portfolio rebalancing, eyes will be on the ECB’s Sintra Forum.
For the ECB, the focus will be on President Lagarde’s commentary surrounding any additional details on the anti-fragmentation tool. This is perhaps a reason why the Euro has been resilient in face of last week’s poor PMI figures, which provided a stark reminder of the downside risks to growth that the Euro Area faces. For a click list of ECB speakers,
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