5 Feb 2014
Flash: EURUSD, Weak Retail Sales Data – TD Securities
FXStreet (Guatemala) - Strategists at TD Securities noted that the Eurozone service sector PMI data came in little changed from the preliminary data.
Key Quotes:
“… but disappointingly soft retail sales for the Eurozone overall in December (and downward revisions to November) will help sustain speculation that the ECB may stake some additional policy steps at Thursday’s meeting (minority call for a small refi rate cut, larger potential perhaps for liquidity measures) as inflation expectations ease further”.
“EUR/USD continues to consolidate last week’s sharp sell off from the 1.37 area but we think downside risks remain near-term; loss of support around 1.35 should see the downside move resume and push to 1.33/1.34 range”.
Key Quotes:
“… but disappointingly soft retail sales for the Eurozone overall in December (and downward revisions to November) will help sustain speculation that the ECB may stake some additional policy steps at Thursday’s meeting (minority call for a small refi rate cut, larger potential perhaps for liquidity measures) as inflation expectations ease further”.
“EUR/USD continues to consolidate last week’s sharp sell off from the 1.37 area but we think downside risks remain near-term; loss of support around 1.35 should see the downside move resume and push to 1.33/1.34 range”.