EUR/USD is likely to remain on its course of consolidation — Danske Bank

FXStreet — The currency pair is likely to continue its phase of consolidation between 1.06 and 1.10 in the next few months, said Mathias Mogesen, market analyst at Danske Bank.

Important Quotes:

In the United States on Friday of stronger-than-expected employment cost index was much more important than the mixed gross domestic product for the first quarter.

The financial markets are today, be reminded that the economy has slowed its expansion, when the much-respected economic indicator, the ISM Index for the Manufacturing sector will be published.

This fact is likely the USD charge, which is why we used the EUR/USD on a quiet day of trading in the FX universe is probably at the upper end of the above-described sideways range.

** FXStreet News Editorial, FXStreet**

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