16 Jul 2014
EUR/USD is contained in 2 cent range here - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that the EUR is weak, flirting with the lower end of its recent range.
Key Quotes:
“The catalyst began with yesterday’s comments by Fed Chair Yellen but the follow through has been positioning."
"The market ignored the May trade balance, which detailed a 0.6%m/m rise in exports and 0.5%m/m uptick in imports. Tomorrow’s release of CPI generally follows the flash estimate, which came in at 0.5%y/y and 0.8%y/y on core, however there is risk for EUR on a surprise".
"We expect EUR to be contained within its recent range of 1.35 to 1.37 in the near term before it ultimately depreciates to 1.30 by year‐end."
Key Quotes:
“The catalyst began with yesterday’s comments by Fed Chair Yellen but the follow through has been positioning."
"The market ignored the May trade balance, which detailed a 0.6%m/m rise in exports and 0.5%m/m uptick in imports. Tomorrow’s release of CPI generally follows the flash estimate, which came in at 0.5%y/y and 0.8%y/y on core, however there is risk for EUR on a surprise".
"We expect EUR to be contained within its recent range of 1.35 to 1.37 in the near term before it ultimately depreciates to 1.30 by year‐end."