The post EUR soft and drifting back below 1.16 – Scotiabank appeared on BitcoinEthereumNews.com. The Euro (EUR) is trading defensively and drifting back below 1.16 as it fades a portion of Wednesday’s gains, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report. Markets await PMI’s “Fundamental releases have been limited as we await Friday’s preliminary PMI’s. Interest rate differentials remain steady and supportive of EUR strength however their relationship to the EUR remains weak at the moment.” “Sentiment continues to dominate and we note a persistently high correlation to risk reversals, reflecting the market’s focus on recent political developments in France. The French political situation appears to have settled and the French-German 10Y yield spread has steadied just below 80bpts at the narrower end of the range following its blowout in late August.” “The EUR remains range bound. Momentum is close to neutral with an RSI just below 50 and the broader trend offers little as the flattened 50 day MA (1.1688) reflects the trendless range observed since early July. Recent movement has been bound between last week’s low around 1.1550 and last Friday’s high in the mid/lower-1.17s. We look to a near-term range bound between 1.1550 and 1.1650.” Source: https://www.fxstreet.com/news/eur-soft-and-drifting-back-below-116-scotiabank-202510231416The post EUR soft and drifting back below 1.16 – Scotiabank appeared on BitcoinEthereumNews.com. The Euro (EUR) is trading defensively and drifting back below 1.16 as it fades a portion of Wednesday’s gains, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report. Markets await PMI’s “Fundamental releases have been limited as we await Friday’s preliminary PMI’s. Interest rate differentials remain steady and supportive of EUR strength however their relationship to the EUR remains weak at the moment.” “Sentiment continues to dominate and we note a persistently high correlation to risk reversals, reflecting the market’s focus on recent political developments in France. The French political situation appears to have settled and the French-German 10Y yield spread has steadied just below 80bpts at the narrower end of the range following its blowout in late August.” “The EUR remains range bound. Momentum is close to neutral with an RSI just below 50 and the broader trend offers little as the flattened 50 day MA (1.1688) reflects the trendless range observed since early July. Recent movement has been bound between last week’s low around 1.1550 and last Friday’s high in the mid/lower-1.17s. We look to a near-term range bound between 1.1550 and 1.1650.” Source: https://www.fxstreet.com/news/eur-soft-and-drifting-back-below-116-scotiabank-202510231416

                                                                               Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday.                     The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction.  “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more