Research preview

Risk And Invalidation Risk remains level-led. The invalidation level matters more than the headline bias; reduce size around data releases and avoid treating the first reaction as confirmation without a retest. EUR/USD News And Catalyst Brief The day's headlines lean into one main market question around inflation and central-bank policy. EUR/USD carries a cautious-to-lower news bias because the headlines point to dollar support or pressure on the European side of the pair, with inflation data, central-bank expectations, and growth releases behind the move. That makes the technical map more important, not less important, because price still has to confirm the macro story. Boj's himino: we will debate at each meeting...