Trading Mid-Day Update (05/11)
During today’s Currency Call, Scott highlighted that the U.S. dollar index did hold at the 90 level. For now, Scott suggests waiting for the release of the U.S. CPI data to be released on Wednesday before looking for trade ideas.
Jin highlighted that the German ZEW Economic Sentiment that will be released later at 1700 (SGT) may have an impact of the euro.
The ECB monetary policy statement that will be released this Friday at 1930 (SGT) is unlikely going to indicate any changes in monetary policy.
During the day, EUR/USD strengthened with the release of the positive German ZEW Economic Sentiment data.
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