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4 Jun 2015
EUR/USD upside seen as temporary – Danske Bank
FXStreet (Edinburgh) - Senior Analyst Signe Roed-Frederiksen sees the current correction higher in the pair as only temporary.
Key Quotes
“EUR/USD edged slightly higher yesterday as Draghi said the ECB will see through market volatility and that there is no need at present to add to the existing QE scheme”.
“We maintain that EUR/USD will likely move lower from here with topside capped by the Greek issue and ECB's commitment to asset purchases, defying any discussion of an early exit”.
“With Greece likely to remain a market worry ahead of significant IMF payments over the summer, we still see potential to price a larger Grexit risk premium into the cross”.
“At the same time, we are seeing tentative signs of a bottom in negative data surprises from the US”.
Key Quotes
“EUR/USD edged slightly higher yesterday as Draghi said the ECB will see through market volatility and that there is no need at present to add to the existing QE scheme”.
“We maintain that EUR/USD will likely move lower from here with topside capped by the Greek issue and ECB's commitment to asset purchases, defying any discussion of an early exit”.
“With Greece likely to remain a market worry ahead of significant IMF payments over the summer, we still see potential to price a larger Grexit risk premium into the cross”.
“At the same time, we are seeing tentative signs of a bottom in negative data surprises from the US”.