The EUR/USD fell below the 200-day SMA of 1.0800 towards the 1.0795 area to close the week.
The Euro tallied a fourth consecutive weekly loss against the USD.
The cautious stance by Christine Lagarde at the Jackson Hole Symposium weakens the Euro.
In Friday’s session, the EUR/USD bears broke through the 200-day Simple Moving Average (SMA) of 1.0800, setting a 0.72% weekly loss, its fourth in a row. In addition,the 20 and 100-day SMAs performed a bearish cross, suggesting that further downside may be on the horizon for the pair.
At Jackson Hole, Christine Lagarde, president of the European Central Bank (ECB), didn’t provide any highlights. She stated that the bank is ready to raise as much as possible rates but that a multi-legged approach is needed for effective policy. As for now, ECB expectations remain subdued, mainly driven by poor results shown by the Eurozone and according to the World Interest Rates Probabilities (WIRP), investors bet on 40% and 55% odds of a 25 basis point (bps) hike in the September and October meetings
免責事項：本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。
