May 02, 2023 08:15 GMT
ECB Bank Lending Survey Tips EUR Volumes Ahead of Average, Support Nearby
- Some weight goes through in the EUR/USD following the Bank Lending Survey - although stability in EUR/GBP suggests it's a dollar move primarily - evident in the USD Index touching the best levels of the day in recent trade.
- Decent uptick in volumes across EUR futures helps tip cumulative volumes above average for this time of day, thanks to the more sizeable trade since 0900BST - around $1.4bln cash equivalent trading since the ECB BLS, proving more consequential than the final PMI prints.
- Next support in EURUSD undercuts at 1.0957, the 20-day EMA