EUR/USD (current price: 1.0969)
The pair had a narrow trading range yesterday, as the Dollar faced nervous conditions with the presidential election getting tighter again. The German Retail Sales report came in worse than expected, while the Eurozone CPI reading was in line with expectations. The common currency lost ground in early trading, but it managed to recover later on as the looming Fed decision seems more uncertain now. The U.S. economy is still performing better than its peers, despite the recent weakness in housing and the labor market.
Our assessment: The cross is still trading below the crucial 1.10 level before the week´s key central bank decisions, still within the long-term neutral trading range
