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Bearish factors continue to stack up against the euro.

EUR/CAD is trying to break lower on the weekly charts, and today’s close along with which way it breaks outside of yesterday’s could be key for how the cross trades next week.

After a drawn-out selection process, that exposed more than a few cracks in the bloc, European Leaders threw a curve ball appointing Christine Lagarde as the head of the ECB.

A summary of the weekly Commitment of Traders Report (COT) from CFTC to show market positioning among large speculators.

A summary of the weekly Commitment of Traders Report (COT) from CFTC to show market positioning among large speculators.

The tensions in the Gulf have moved up one level as the US reportedly nearly ordered an airstrike against Iran in response to several of its drones being shot down.

Probably not, but the improvement should help to keep the euro and stock bears away — for now.

A set of weaker company results hit the FTSE this morning with further pressure added by airline shares.

Looking ahead, the next hurdle for EUR/USD bulls will be the 200-day moving average near 1.1370. A confirmed break above that barrier opens the door for another leg up to the mid-1.14s or even 1.1500 next. To the downside, the near-term bullish bias remains intact above previous-resistance-turned-support near 1.1270.

A summary of the weekly Commitment of Traders Report (COT) from CFTC to show market positioning among large speculators.

With a quiet economic calendar, headlines surrounding Brexit and the ‘hunt for Britian’s next PM’ remain potential drivers for the British pound this week.

The euro was coming under increased pressure to break lower following the publication of further soft Eurozone data this morning, with investors also dumping stocks, government bonds and commodities amid ongoing concerns over trade wars and slowing economic activity.

A summary of news and snapshot of moves from today’s Asia session.