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6 Aug 2013
Flash: EUR/USD eases despite weak dollar - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the EUR/USD eased slightly despite a weak broad dollar tone on the back of a mixed batch of EZ data releases.
Key Quotes
“However, we retain the view that the EUR remains relatively more well equipped to capitalize on potential USD weakness.”
“In the near term, a move above 1.3300 may open the way back to 1.3350. On the downside, any break of the 1.3200 floor may see a drift back towards the 1.3150 area.”
“Structurally, we also find that speculative positioning, together with the relative performances of the EZ/US Macro Surprise Indices, continue to present EUR-positive arguments.”
Key Quotes
“However, we retain the view that the EUR remains relatively more well equipped to capitalize on potential USD weakness.”
“In the near term, a move above 1.3300 may open the way back to 1.3350. On the downside, any break of the 1.3200 floor may see a drift back towards the 1.3150 area.”
“Structurally, we also find that speculative positioning, together with the relative performances of the EZ/US Macro Surprise Indices, continue to present EUR-positive arguments.”