Search ForexCrunch

The Macron Gap is finally closed – and that may provide some hope for EUR/USD bulls. The ECB’s minutes, economic divergence, and coronavirus headlines are eyed today, Yohay Elam from FXStreet briefs.

Key quotes

“EUR/USD has room for falls due to more evidence of US economic strength and eurozone weakness. The German GfK Consumer Climate dropped from 9.9 to 9.8 points in February. In America, Housing Starts, Building Permits, and the Producer Price Index all exceeded expectations.”

“The Federal Reserve’s meeting minutes from the January meeting echoed the message conveyed by officials in recent months – the Fed is on hold.”

“The coronavirus outbreak continues dominating the headlines. Most of the time, the dollar benefits from safe-haven concerns, while forecasts for weaker Chinese output are of concern to German exporters.”