19 Jan 2015
Increasing expectations for a QE bombshell might send EUR/USD to test 1.10 – UOB
FXStreet (Barcelona) - Analysts at UOB Group shares the FX performance last Friday, and further anticipate that the increasing expectations for a ECB QE bombshell might send the EUR/USD pair to test 1.10 levels in the near-term.
Key Quotes
“The US dollar was also broadly stronger last Friday (16 Jan) especially with the euro weakening to below 1.15 intraday against the USD (for the first time since Nov 2003) on growing expectation that the European Central Bank (ECB) will launch stimulus on 22 January to jump-start the ailing Eurozone economy. The EUR/USD touched an intraday low of 1.146 before paring some losses and closed at 1.1567 (from previous close of 1.1633). Similarly, the GBP/ USD pair ended lower at 1.5150 (from previous day close of 1.5183).”
“The USD/JPY pair went to an intraday high of 117.77 in NY session, before it settled close to the high at 117.51 from previous close of 116.17 while the EUR/JPY pair was higher at 135.95 from 135.13 previously.”
“The AUD/USD pair rebounded slightly higher and eventually closed at 0.8223 (from the previous close of 0.8217). In comparison, the kiwi continued to weaken against the USD and the NZD/USD pair ended the trading session lower at 0.7790 (from 0.7825).”
“The currency markets will be focusing on this week’s ECB policy decision and increasing expectation for a ECB QE bombshell could send the euro testing 1.10 against the USD near term.”
Key Quotes
“The US dollar was also broadly stronger last Friday (16 Jan) especially with the euro weakening to below 1.15 intraday against the USD (for the first time since Nov 2003) on growing expectation that the European Central Bank (ECB) will launch stimulus on 22 January to jump-start the ailing Eurozone economy. The EUR/USD touched an intraday low of 1.146 before paring some losses and closed at 1.1567 (from previous close of 1.1633). Similarly, the GBP/ USD pair ended lower at 1.5150 (from previous day close of 1.5183).”
“The USD/JPY pair went to an intraday high of 117.77 in NY session, before it settled close to the high at 117.51 from previous close of 116.17 while the EUR/JPY pair was higher at 135.95 from 135.13 previously.”
“The AUD/USD pair rebounded slightly higher and eventually closed at 0.8223 (from the previous close of 0.8217). In comparison, the kiwi continued to weaken against the USD and the NZD/USD pair ended the trading session lower at 0.7790 (from 0.7825).”
“The currency markets will be focusing on this week’s ECB policy decision and increasing expectation for a ECB QE bombshell could send the euro testing 1.10 against the USD near term.”