EUR/USD: Still ‘Stuck In A Rut’; Staying Neutral Here – BTMU

EUR/USD is sliding within the known ranges and looks a bit tired. What’s next? Here is the view from BTMU:

Here is their view, courtesy of eFXnews:

BTMU Research discusses EUR/USD outlook and adopts a neutral bias around current levels.

“The euro continues to consolidate against the US dollar between the 1.2000 and 1.2500-levels. We see not clear fundamental catalyst this week to bring an end to the current range trading environment.

If the sell-off in the US equity market extends further in  it could begin to exert more influence on the foreign exchange market, although even then the euro’s low beta status should help to dampen any impact on the EUR/USD rate. At the same time the renewed flattening in the US yield curve driven by more risk-averse trading conditions could be viewed as a US dollar negative development,” BTMU argues.

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