The Euro posted a new low during yesterday's trading session touching down to 1.0600 despite a positive flash manufacturing and services PMI numbers across Germany, France and the Eurozone on the whole. Yesterday's market price action revealed that investors favor holding the Euro short against the Dollar in what could very well be a decisive month ahead where both the ECB and the Fed are likely to announce big policy shifts. In terms of Central Bank speeches, yesterday it was the turn of Erkki Liikanen, Finnish Central Bank chief and a member of the ECB's Governing council. Considered to be a hawk, his dovish comments yesterday kept the pressure on. According to Liikanen, “the deflation risks remain persistent in the Euro area calling for the ECB to do more”. With the Central Bank likely to spring into action, pressure on the Euro is set to persist.
Markets Look to a Bullish GDP Reading
Daily Analysis - 24/11/2015