EUR/USD correction in bulls 1.15 graveyard - Scotiabank

Analysts at Scotiabank explained that investors could not buy enough EUR yesterday and couldn't wait to get rid of it today.

Key Quotes:

"European data releases came in weaker than expected overall - softer service sector activity (PMI) and weaker than expected retail sales – but EUR/USD’s performance is really a follow on from yesterday’s losses."

"It appears, once again, as if the EUR/USD rally has stalled above 1.15 – which has been a graveyard for EUR longs over the past year."