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EUR-USD to move in range of 1.1250-1.1300

After all the FOMC members did not provide any news. Janet Yellen seemed very cagey at a conference on community banking yesterday, avoiding comments on monetary policy. 

Should the US ISM index disappoint it may provide new entry opportunities for USD buyers. After all, following the weak inflation data from the euro zone speculation is mounting that the ECB will have to extend its QE programme. It will therefore be interesting to see whether ECB President Mario Draghi will comment on monetary policy in New York tonight. 

Certainly EUR-USD seems to be slowly running out of steam in the area of 1.1250-1.1300, says Commerzbank. 

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