16 Feb 2015
Credit Agricole: Keep selling EUR rallies – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares Credit Agricole’s view that EUR rallies remain a sell as upside risks for the pair stand limited.
Key Quotes
“The EUR has been broadly stable recently, mainly on the back of rising expectations of EU officials getting closer to a solution for Greece.”
“German Chancellor Merkel, for instance, suggested that compromises can be made when the advantages outweigh the disadvantages.”
“However, it must still be noted that Greece is ultimately trying to receive much easier bailout conditions. This is especially true as Greece’s Finance Minister Varoufakis stressed on Friday that a debt reduction is still favoured over an extension of the bailout.”
“In any case today’s focus shifts to the Eurogroup meeting. Although there is room for positive developments we remain of the view that EUR upside risk is limited related to Greece.”
“Accordingly we remain short EUR/USD.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“The EUR has been broadly stable recently, mainly on the back of rising expectations of EU officials getting closer to a solution for Greece.”
“German Chancellor Merkel, for instance, suggested that compromises can be made when the advantages outweigh the disadvantages.”
“However, it must still be noted that Greece is ultimately trying to receive much easier bailout conditions. This is especially true as Greece’s Finance Minister Varoufakis stressed on Friday that a debt reduction is still favoured over an extension of the bailout.”
“In any case today’s focus shifts to the Eurogroup meeting. Although there is room for positive developments we remain of the view that EUR upside risk is limited related to Greece.”
“Accordingly we remain short EUR/USD.”
This content has been provided under specific arrangement with eFXnews.