EUR/USD little changed as Ferrari buyback offers no FX catalyst

Ferrari N.V. confirmed completion of the second tranche of its multi-year share repurchase programme and announced a third tranche, a corporate capital-return event with negligible direct impact on EUR/USD or broader euro pricing. Buyback flows of this scale are dwarfed by daily euro turnover and do not alter the European Central Bank's policy trajectory, which remains the dominant driver for the single currency alongside eurozone inflation and growth data. Traders should note that sustained equity repatriation and corporate hedging flows can, in aggregate, provide marginal euro support, but a single issuer programme is not a tradable signal. EUR/USD direction continues to hinge on the ECB-Fed policy spread, eurozone HICP prints and US labour market releases. Technically, EUR/USD support is seen near 1.1600 with resistance around 1.1750; a sustained break either side requires a macro catalyst rather than corporate news flow. Position accordingly and treat this headline as background context on eurozone corporate health rather than an FX driver.