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26 Feb 2014
Flash: EUR near term to test 1.3820 - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank said “The outlook for inflation is the most important near‐term driver of EUR, as it flows directly into ECB policy setting".
Key Quotes
"Accordingly, it was encouraging to see yesterday’s EC inflation forecast at 1.0y/y in 2014 and rising to 1.3%y/y in 2015; which are relatively close to the ECB’s December forecasts of 1.1% y/y in 2014 and 1.3%y/y in 2015. Any change to these forecasts at next week’s ECB meeting will important for EUR traders. EUR failed to react to a stronger German GfK consumer confidence release; while tomorrow’s inflation and unemployment data loom."
"EUR/USD short‐term technicals: bullish but as spot remains range bound some momentum is fading. We expect a near‐term test up to 1.3820."
Key Quotes
"Accordingly, it was encouraging to see yesterday’s EC inflation forecast at 1.0y/y in 2014 and rising to 1.3%y/y in 2015; which are relatively close to the ECB’s December forecasts of 1.1% y/y in 2014 and 1.3%y/y in 2015. Any change to these forecasts at next week’s ECB meeting will important for EUR traders. EUR failed to react to a stronger German GfK consumer confidence release; while tomorrow’s inflation and unemployment data loom."
"EUR/USD short‐term technicals: bullish but as spot remains range bound some momentum is fading. We expect a near‐term test up to 1.3820."