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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
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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