24 Jul 2015
EUR/USD to trade with bearish bias next week – BTMU
FXStreet (Mumbai) - The currency research team at BTMU sees the EUR/USD pair trading largely in the range of 1.0750-1.1150 with a negative bias as the focus is back on the relative fundamentals after Greek deal.
Key Quotes
“The euro has come back under modest downward pressure against the US dollar as the foreign exchange market has shifted back to being driven by relative fundamentals. The risk of a negative shock from a Greek default and Grexit in the near-term has eased as the Greek government moves closer to securing a third bail out from its creditors.”
“The US dollar is regaining upward momentum more broadly ahead of the first Fed rate hike which is still expected this year. The FOMC may present a modestly more upbeat assessment of the US economy at their policy meeting in the week ahead although still likely refrain from giving a clear signal as to whether they will begin to raise rates in September.”
Key Quotes
“The euro has come back under modest downward pressure against the US dollar as the foreign exchange market has shifted back to being driven by relative fundamentals. The risk of a negative shock from a Greek default and Grexit in the near-term has eased as the Greek government moves closer to securing a third bail out from its creditors.”
“The US dollar is regaining upward momentum more broadly ahead of the first Fed rate hike which is still expected this year. The FOMC may present a modestly more upbeat assessment of the US economy at their policy meeting in the week ahead although still likely refrain from giving a clear signal as to whether they will begin to raise rates in September.”