28 Nov 2014
EUR/USD trading end of November with mixed forward outlook - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the Euro’s performance and offers a mixed outlook.
Key Quotes:
The flash CPI came in at 0.3%y/y on headline and 0.7%y/y on core (see chart), with falling oil prices likely to weigh on it further."
"Miserable consumer spending from France and a jump higher in Italy’s unemployment rate was offset by strong retail spending in Germany”.
“Next week’s ECB meeting is a core input for EUR traders.
"EUR/USD short‐term technicals: mixed—conflicting technical signals warn that EUR is likely to range trade until there is a strong fundamental catalyst. The range lies between the 1.2358 low and the 1.2600 high, levels that can be used as support and resistance."
Key Quotes:
The flash CPI came in at 0.3%y/y on headline and 0.7%y/y on core (see chart), with falling oil prices likely to weigh on it further."
"Miserable consumer spending from France and a jump higher in Italy’s unemployment rate was offset by strong retail spending in Germany”.
“Next week’s ECB meeting is a core input for EUR traders.
"EUR/USD short‐term technicals: mixed—conflicting technical signals warn that EUR is likely to range trade until there is a strong fundamental catalyst. The range lies between the 1.2358 low and the 1.2600 high, levels that can be used as support and resistance."