S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketThe Euro (EUR) is trading marginally higher against the US Dollar (USD), consolidating after its retreat from late-December highs as European Central Bank (ECB) commentary strikes a more balanced tone, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report.
ECB rhetoric turns more neutral as EUR consolidates
“The EUR is steady, up fractionally vs. the USD as it consolidates its recent pullback from its late December highs around 1.18. Fundamental releases have been limited and comments from the ECB have reintroduced a slightly more neutral bias with comments from GC Villeroy highlighting both upside and downside risks.”
“The EUR’s latest pullback looks to have found support around the 50 day MA at 1.1660 and momentum remains close to neutral with an RSI hovering just below the diving threshold at 50. We look to a nearterm range bound between 1.16 and 1.17.”
