EUR/USD to find support in the upper 1.02s in the near-term – Scotiabank

EUR/USD slips on profit-taking. As economists at Scotiabank note, growth/energy challenges remain.

Growth/recession/energy supply concerns remain a threat to the EUR

“The EUR’s mid-week gains are easing somewhat into the end of the week, perhaps reflecting profit-taking after the market failed to extend through the 1.0360/70 zone.”

“We look for EUR/USD to find support in the upper 1.02s in the near-term.” 

“Growth/recession/energy supply concerns remain a threat to the EUR outlook.”