Eur / Usd stable. MUFG Bank sees new rises the next octave

In the last few minutes the cross is photographed at 1.1165, with a fractional increase of 0.07% which confirms the good performance of the single currency after the positive US labor data.

An update that did not favor any strengthening of the greenback, slowed down afterwards by the disappointing data on the ISM manufacturing index which remains below the 50-point threshold, the dividing line between expansion and contraction of activity.

The analysts of Mufg Bank maintain a positive view on the euro-dollar, indicating that in October the single currency posted the largest monthly increase against the greenback since January 2018, when the market focused on tightening of monetary policy by the ECB.

Experts, who see the euro-dollar in a range between 1.095 and 1.125 in the short, expect the bullish momentum to continue next week.

The idea is that macro data should slightly weaken the dollar, and to this is added the fact that investors do not seem to be surprised by the Fed's indication that new interest rate cuts are not on the agenda for now.