24 Feb 2016
EURUSD catches its breath – UniCredit
Research Team at UniCredit, suggests that some weakening in leading indicators across Europe may lead to a continuation of the recent correction in EUR-USD over the coming days.
Key Quotes
“EUR-USD saw some correction last week, and this may well continue over the coming days
as we expect some weakening in leading indicators across Europe. Also, markets remain well aware of the probability of ECB action at the March meeting. That said, we are hardly likely to see a revival of the strong euro-bearishness prevailing before the December meeting.
We remain confident in our constructive medium term view on the euro. Last week’s mixed performance of the USD provided further evidence in support of our expectation that a major US dollar correction is on its way.”
Key Quotes
“EUR-USD saw some correction last week, and this may well continue over the coming days
as we expect some weakening in leading indicators across Europe. Also, markets remain well aware of the probability of ECB action at the March meeting. That said, we are hardly likely to see a revival of the strong euro-bearishness prevailing before the December meeting.
We remain confident in our constructive medium term view on the euro. Last week’s mixed performance of the USD provided further evidence in support of our expectation that a major US dollar correction is on its way.”