13 Jan 2014
Flash: ECB dampens Euro upside - BTMU
FXstreet.com (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the ECB's forward guidance has dampened Euro upside in the near term.
Key Quotes
"The ECB’s strengthened forward guidance has likely helped dampen euro upside against the US dollar in the near-term following the release of the weaker than expected US employment report."
" The release on Friday as well of the weaker than expected UK manufacturing report for November has also helped to dampen pound upside against the US dollar. "
"The report revealed that manufacturing output growth in the UK was flat in November following a downwardly revised expansion of 0.2% in October."
"The pace of growth is somewhat weaker than implied by more buoyant surveys with the manufacturing PMI having remained at elevated since the summer."
Key Quotes
"The ECB’s strengthened forward guidance has likely helped dampen euro upside against the US dollar in the near-term following the release of the weaker than expected US employment report."
" The release on Friday as well of the weaker than expected UK manufacturing report for November has also helped to dampen pound upside against the US dollar. "
"The report revealed that manufacturing output growth in the UK was flat in November following a downwardly revised expansion of 0.2% in October."
"The pace of growth is somewhat weaker than implied by more buoyant surveys with the manufacturing PMI having remained at elevated since the summer."