24 Mar 2015
EUR bulls eyeing above 1.1200 levels – MP
FXStreet (Barcelona) - Dean Popplewell, Director of Currency Analysis at MarketPulse, comments that EUR/USD bulls are eyeing the 1.1200-1.1300 handle for mid-term relief.
Key Quotes
“The better than expected PMI’s has help lift the EUR to briefly peek above the psychological €1.1000 handle. It’s not just the upbeat data that is pushing the dollar lower or pulling the EUR higher, the market continues to adjust their “positions” accordingly.”
“The huge EUR/USD fall (down to €1.0464 last week as ECB QE got under way) has the EUR bull’s eyeing scope for a larger correction. The €1.1062 (March 18) high to date is seen as too small. However, the low after Syriza’s win in Greece (€1.1098) could be a tough hurdle to overcome.”
“The Euro bull is looking to the €1.1200-1.1300 handle for mid-term relief. However, they will require further easing of pressure from the rates market to fuel further EUR gains.”
“So far this month, fixed income traders have managed to shave -12bp off the 2-year Treasury/Bund spread. It seems that EUR speculators are happy to set up buying dips below €1.0900 and €1.0875.”
Key Quotes
“The better than expected PMI’s has help lift the EUR to briefly peek above the psychological €1.1000 handle. It’s not just the upbeat data that is pushing the dollar lower or pulling the EUR higher, the market continues to adjust their “positions” accordingly.”
“The huge EUR/USD fall (down to €1.0464 last week as ECB QE got under way) has the EUR bull’s eyeing scope for a larger correction. The €1.1062 (March 18) high to date is seen as too small. However, the low after Syriza’s win in Greece (€1.1098) could be a tough hurdle to overcome.”
“The Euro bull is looking to the €1.1200-1.1300 handle for mid-term relief. However, they will require further easing of pressure from the rates market to fuel further EUR gains.”
“So far this month, fixed income traders have managed to shave -12bp off the 2-year Treasury/Bund spread. It seems that EUR speculators are happy to set up buying dips below €1.0900 and €1.0875.”