14 Jul 2014
Selling the EUR still preferred - Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, still recommends going short the EUR.
Key Quotes
"The economic calendar is sparse but promises us more signs of Eur/US economic divergence, starting with the Euro Area industrial production data this morning (10:00 a.m BST). Strong US retail sales tomorrow will however be offset by Janet Yellen's semi-annual testimony to the Senate."
"The big story from last week, the ‘Espirito Santo affair', if that's the right way to the sell-off in European peripheral bonds and equities, should start to fade away this week. The only news on this topic over the weekend was that the Bank of Portugal has instructed BES to bring forward the appointment of a new, independent management team. A rebound in risk sentiment s more of a story for bond and equity investors but short EUR vs NOK, GBP, PLN and TRY and still appeals"
Key Quotes
"The economic calendar is sparse but promises us more signs of Eur/US economic divergence, starting with the Euro Area industrial production data this morning (10:00 a.m BST). Strong US retail sales tomorrow will however be offset by Janet Yellen's semi-annual testimony to the Senate."
"The big story from last week, the ‘Espirito Santo affair', if that's the right way to the sell-off in European peripheral bonds and equities, should start to fade away this week. The only news on this topic over the weekend was that the Bank of Portugal has instructed BES to bring forward the appointment of a new, independent management team. A rebound in risk sentiment s more of a story for bond and equity investors but short EUR vs NOK, GBP, PLN and TRY and still appeals"