EUR/USD: Euro badly needs the economic outlook to improve.

Economists at Société Générale analyze EUR outlook. The shared currency is desperately seeking better data. The Euro remains anchored by poor growth data

Friday’s PMI data took almost all the wind out of its sails and it badly needs the economic outlook to improve.

Our economics team has cut its Eurozone growth forecast for this year to 0.9%, which remains above consensus. They downplay the significance of the PMI data but for now, EUR/USD continues to track short term rate expectations absurdly closely and the PMI data definitely had an impact on those.

The EUR/USD danger is that it gets stuck in a tight range for a while longer, but if you can’t resist the urge to sell it, we’d recommend doing so against the CAD.

EUR/USD stays in range near 1.0900 after German IFO

EUR/USD continues to fluctuate in its daily range around 1.0900 during the European trading hours. The mixed IFO sentiment data from Germany makes it difficult for the Euro to stay resilient against its rivals. ECB President Lagarde will deliver the opening speech at the Forum on Central Bank.

EUR/USD News

GBP/USD consolidates the bounce near 1.2750

GBP/USD is holding the corrective bounce near 1.2750 in the European trading hours. The Pound Sterling cheers the broad US Dollar, as risk sentiment improves despite renewed concerns surrounding Russia and China.

GBP/USD News

Gold climbs back above $1,930 amid economic woes, weaker USD

Gold price attracts some buying for the second successive day on Monday and trades with a mild positive bias through the early European session. The XAU/USD is currently placed just above the $1,930 level.