23 Aug 2013
Flash: EUR/USD trades on rates valuations – TD Securities
FXstreet.com (New York) - After reversing lower from the 1.34 resistance, the EUR/USD has found short-term support near 1.3300, which has been the range thus far today, notes the TD Securities Team.
Key quotes
“EZ-US yields have been one of the key supports for EUR/USD through the July/August rally, and the 2-year spread narrowed further overnight (EUR/USD supportive). We may need to see some corroboration from the rates market in order to see a more significant move lower in the FX spot market.”
Regarding the Jackson Hole Summit kicks off, and while many of the key names have sent their regrets (Bernanke, Draghi, and Carney will not be present) the significance of the conference in recent years means markets will still keeping at least one eye on the remarks made. Most relevant would be any opinions on the very rapid rise in rates recently.
Key quotes
“EZ-US yields have been one of the key supports for EUR/USD through the July/August rally, and the 2-year spread narrowed further overnight (EUR/USD supportive). We may need to see some corroboration from the rates market in order to see a more significant move lower in the FX spot market.”
Regarding the Jackson Hole Summit kicks off, and while many of the key names have sent their regrets (Bernanke, Draghi, and Carney will not be present) the significance of the conference in recent years means markets will still keeping at least one eye on the remarks made. Most relevant would be any opinions on the very rapid rise in rates recently.