HelenRush

Euro May Rise on PPI

FX_IDC:USDEUR   U.S. Dollar / Euro
EURUSD is still under pressure, and it’s all about geopolitics. Additional pressure comes from EURCHF moves, as traditional safe heaven swissy is very popular now.
However, we still have hopes that the conflict between Washington and Pyohgyang will not reach the critical point, and the current speculations just give us good opportunity to buy euro at cheaper price. Today new wave of speculations on QE tapering revived - ECB poll sees announcement of change of stimulus program in September
If it were not for geopolitics, EUR would jump higher on the news. But now we have to just wait and look for interesting opportunities to enter the market with longs. For example, today the USA release PPI data which is perceived as a leading indicator of CPI scheduled for publication on Friday.
If the numbers come out below expectations, it may trigger EURUSD reversal with initial target at 1.1790.

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