EUR/USD Moves in For Another Test at 1.1300 as USD Re-Claims 97.00

EUR/USD Moves In for a Another Test of 1.1300 as USD Re-Claims 97.00

Talking Points:

– The US Dollar has re-claimed ground above the 97.00 level on the DXY chart, and this is being assisted by waves of weakness in both EUR/USD and GBP/USD. Around the Euro, the optimism from yesterday has come into question after a set of conflicting reports this morning indicated a. that Italy was preparing to cut its planned deficit target followed by b. a contradictive report citing Matteo Salvini that indicated no revised budget will be sent to the EU. Around the UK and Brexit, Theresa May took another hit as her unpopular Brexit plan continues to draw criticism.

– The remainder of this week’s economic calendar is busy, and tomorrow brings some commentary from FOMC Chair Jerome Powell. This will likely be highly-watched, as Fed meetings over the past couple of months have provoked some key inflection points across macro markets. The September rate hike is when the current run of USD-strength began; and the November rate decision was what helped to mark a short-term top in US stocks.

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2018/11/27/eurusd-price-moves-chart-support-11300-usd-above-97-outlook-forecast-srepstans.html