FXStreet (Córdoba) - The EUR/USD is consolidating moderate losses, pulling back after soaring yesterday. In the last hours it has been steady hovering around 1.3635/40.
The pair rose after the release of the NFP report to 1.3676, reaching the highest price since May 22 but pulled back afterwards, finding support at 1.3620.
ECB impact on EUR/USD
The pair is headed toward a modest weekly gain, but about to close far from the lows, boosted after Draghi’s press conference. Despite rebounding from 1.3500 the outlook is not clear.
According to the RBS strategy team, the combination of an eventual balance sheet expansion and lower rates for longer time “leaves the long-term outlook for EUR/USD still decidedly lower, particularly as the Fed approaches the beginning of the exit from accommodative policy”.