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21 May 2015
EUR/USD still can squeeze higher near term – Danske Bank
FXStreet (Edinburgh) - According to Christin Tuxen, Senior Analyst at Danske Bank, upside attempts in the pair cannot be ruled out in the near term.
Key Quotes
“Yesterday’s FOMC minutes revealed little more than the fact that Fed officials are discussing a wide range of topics related to the timing of the first rate hike”.
“The minutes showed that the June meeting seems like an unlikely take-off point for rates but given the recent weak economic figures out of the US this was already priced in FX markets and the USD index was little changed after the release”.
“We still expect EUR/USD to edge lower in the coming months but in the very short-term we still see the cross vulnerable to the upside as long as US data disappoint”.
“IMM positioning data from last week show that speculators are still historically stretched long the ‘greenback’ – even after the recent dollar sell-off”.
Key Quotes
“Yesterday’s FOMC minutes revealed little more than the fact that Fed officials are discussing a wide range of topics related to the timing of the first rate hike”.
“The minutes showed that the June meeting seems like an unlikely take-off point for rates but given the recent weak economic figures out of the US this was already priced in FX markets and the USD index was little changed after the release”.
“We still expect EUR/USD to edge lower in the coming months but in the very short-term we still see the cross vulnerable to the upside as long as US data disappoint”.
“IMM positioning data from last week show that speculators are still historically stretched long the ‘greenback’ – even after the recent dollar sell-off”.