- EUR/USD adds to the positive start of the week above 1.0800.
- The broad-based upbeat tone in the risk complex underpins the pair.
- US Consumer Confidence will be in the limelight later in the session.
The optimism around the European currency remains well and sound and motivates EUR/USD to advance to 2-day highs around 1.0830 on turnaround Tuesday.
EUR/USD up on risk-on mood, dollar weakness
EUR/USD advances for the second session in a row and regains the monthly uptrend following the weakness seen in the second half of last week.
The persistent improvement in the risk-linked galaxy continues to weigh on the greenback and props up the resumption of the upside bias in the pair. In addition, expectations that the Fed might keep the Fed Funds Target Range (FFTR) unchanged at the May event also keeps the price action around the buck subdued.
In the domestic calendar, Business Confidence in France eased to 104 (from 105) and improved to 104.2 in Italy (from 103), both prints for the month of March.
Across the ocean, the Conference Board’s Consumer Confidence will take centre stage seconded by housing data and preliminary trade balance figures.
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