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26 Aug 2013
Flash: EUR/USD keeps bullish tone - UBS
FXstreet.com (Córdoba) - On Monday, the US reported figures on durable goods orders which came in much weaker-than-expected. The UBS analyst team commented on the matter and the effect on EUR/USD.
Key Quotes
“US durable goods orders were surprisingly weak. A huge drop in orders for civilian aircraft, a highly volatile component, was the main reason for the disappointment”.
“We do not think that this must have a longer-term meaning, but it highlights the downside risks to the US economic recovery”.
“EURUSD shot quickly higher but failed to break the resistance at 1.34. We think this is a constructive medium term sign and keep our bullish stance”.
Key Quotes
“US durable goods orders were surprisingly weak. A huge drop in orders for civilian aircraft, a highly volatile component, was the main reason for the disappointment”.
“We do not think that this must have a longer-term meaning, but it highlights the downside risks to the US economic recovery”.
“EURUSD shot quickly higher but failed to break the resistance at 1.34. We think this is a constructive medium term sign and keep our bullish stance”.