14 Mar 2014
Flash: All eyes on Russia-Ukraine over the weekend - Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, remarks the relevances of the events from the Russia-Ukraine situation.
Key Quotes
"Round the rest of it: Crimea is an obvious risk-off catalyst into the weekend and as well as RUB weakness we are seeing USD/JPY vol rise. As long as USD/JPY holds above 101 into the weekend I think we are still building a good base for a push higher."
"But if GBP/USD closes the week below 1.66 I will see that as a sign e can push down to 1.64. In EUR/USD Maro Draghi has talked the Euro down but he needs to back his words p with something bigger than a peashooter if he wants to turn the trend around soon."
"More widely, with UK trade and U-Much sentiment due today, the question is whether distance from Sebastopol and Beijing allows the US market to become less skittish this afternoon. There's a chance the mood improves a bit this afternoon, but it's only a chance....."
Key Quotes
"Round the rest of it: Crimea is an obvious risk-off catalyst into the weekend and as well as RUB weakness we are seeing USD/JPY vol rise. As long as USD/JPY holds above 101 into the weekend I think we are still building a good base for a push higher."
"But if GBP/USD closes the week below 1.66 I will see that as a sign e can push down to 1.64. In EUR/USD Maro Draghi has talked the Euro down but he needs to back his words p with something bigger than a peashooter if he wants to turn the trend around soon."
"More widely, with UK trade and U-Much sentiment due today, the question is whether distance from Sebastopol and Beijing allows the US market to become less skittish this afternoon. There's a chance the mood improves a bit this afternoon, but it's only a chance....."