22 Jan 2014
Flash: Euro flat on the day; focus on PMI and ECB - Scotiabank
FXstreet.com (San Francisco) - Chief FX Strategist at Scotiabank Camilla Sutton commented that the EUR/USD remains below the 100 day MA of 1.3575 despite a brief attempt to break above it. Sutton believes the pair is waiting for Thursday's data to take a direction.
Key quotes:
"EUR is essentially flat to yesterday’s close, having briefly traded above the 100 day MA of 1.3575 before falling back into Tuesday’s range. Tomorrow's PMI and a focus on how the ECB will handle any additional pressure in money markets are the key focus."
"Ten-year yields in Italy, Spain and Portugal continue to fall, highlighting increasing comfort with the periphery.
Key quotes:
"EUR is essentially flat to yesterday’s close, having briefly traded above the 100 day MA of 1.3575 before falling back into Tuesday’s range. Tomorrow's PMI and a focus on how the ECB will handle any additional pressure in money markets are the key focus."
"Ten-year yields in Italy, Spain and Portugal continue to fall, highlighting increasing comfort with the periphery.