9 Apr 2014
EUR higher on shift in the dollar - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted there was no top tier data today; with EUR instead reacting to the broader USD shift.
Key Quotes
"EUR is strong. ECB rhetoric seems to be relatively unified; essentially that there are no signs of deflation, that low inflation is self-fulfilling and there are still standard policy tools to be used before turning to unconventional policy. There was no top tier data today; with EUR instead reacting to the broader USD shift."
"EUR/USD short‐term technicals: bearish but signals are fading as spot has broken back up over the 50-day MA and several studies suggest EUR is range bound. For near-term traders there is better risk/reward elsewhere."
Key Quotes
"EUR is strong. ECB rhetoric seems to be relatively unified; essentially that there are no signs of deflation, that low inflation is self-fulfilling and there are still standard policy tools to be used before turning to unconventional policy. There was no top tier data today; with EUR instead reacting to the broader USD shift."
"EUR/USD short‐term technicals: bearish but signals are fading as spot has broken back up over the 50-day MA and several studies suggest EUR is range bound. For near-term traders there is better risk/reward elsewhere."