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13 Aug 2013
Flash: EUR/USD bearishness reiterated, pointed lower – TD Securities
FXstreet.com (New York) - The TD Securities Team posits the short-term outlook of the EUR/USD and the recent data streams effect on the pair.
Key quotes
“We’ve remained bearish on EUR with the failure to cleanly break above 1.34, and the fact that stronger German survey data last night was not able to boost the Single currency is a sign that the market is really focused on the US side of the equation right now.”
“Overall we’re still biased towards a lower EUR in the coming weeks and months, but looking at the narrowing of EUR-US short-term rate spreads overnight and considering we could get a strong German GDP report tomorrow, there is a risk of some whippy trading in the coming days.”
Key quotes
“We’ve remained bearish on EUR with the failure to cleanly break above 1.34, and the fact that stronger German survey data last night was not able to boost the Single currency is a sign that the market is really focused on the US side of the equation right now.”
“Overall we’re still biased towards a lower EUR in the coming weeks and months, but looking at the narrowing of EUR-US short-term rate spreads overnight and considering we could get a strong German GDP report tomorrow, there is a risk of some whippy trading in the coming days.”