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The pressure remains bearish on the EUR/USD this Monday, the pair has been content to consolidate its losses of last week in the face of a report NFP better than expected.
However, several factors could weigh on the single currency. The governor of the bank of France did not exclude the possibility that the ECB may ease its monetary policy as early as this summer in response to a journalist of CNBC.
This morning, German industrial output proved to be disappointing, although partially offset by a trade surplus higher than expected.
Other statistics disappointing, the index Sentix investor confidence of the euro area for the month of July plunged to -5.8 points, as against 0.3 point early and -3.3 points in the previous month.
It would, therefore, not surprising that new lows are marked, in the short term. In this case, outside the hollow of the last week at 1.1207, the psychological threshold of 1.12, and the former support 1.1180 will be to monitor.
Under these thresholds, a continuing decline will become the most likely scenario, with 1.1150 in the line of sight, and then the hollow annual 1.1106.
Tomorrow, the economic calendar will be lightly loaded, except for a speech by Powell, the theme of which should not lead us to speak of the monetary policy.
On the other hand, Wednesday will be a very important day for EUR/USD, with the testimony of Powell before Congress on US, and with the publication of the Minutes of the last Fed meeting.
In the meantime, it is possible that investors are subject to withholding, and the context tends to consolidation.