EUR/USD remains heavy ahead of FOMC – OCBC Bank

FXStreet (Edinburgh) - According to Emmanuel Ng, FX Strategist at OCBC Bank, the pair will keep the heavy tone as we get closer to key events, such as the FOMC meeting and the TLTRO take up.

Key Quotes

“The EUR-USD may continue to loiter amidst a top heavy tone with the OECD yesterday urging further action from the ECB”.

“Data points meanwhile are providing no relief, with the July trade surplus shrinking from the previous month at EUR12.2bn”.

“As noted yesterday, the pair may be expected to bounce within a 1.2900-1.3000 range pending further cues (i.e., FOMC on Wednesday and the TLTRO take up on Thursday)”.