21 Nov 2013
Flash: FOMC and ECB comments weighed on EUR/USD overnight - Danske Bank
FXstreet.com (Barcelona) - Danske Bank strategists note that the more hawkish minutes from FOMC in addition to ECB comments yesterday that negative deposit rates are considered have both weighed on EUR/USD overnight.
Key Quotes
“This divergence in monetary policy outlook between the ECB (soft) and Fed doing tapering (hawkish) is exactly the reason why we believe EUR/USD will drop to 1.26 during the course of 2014.”
“ Today the FX markets will keep an eye on the European PMIs to judge the strength of the incipient recovery in the European economy.”
Key Quotes
“This divergence in monetary policy outlook between the ECB (soft) and Fed doing tapering (hawkish) is exactly the reason why we believe EUR/USD will drop to 1.26 during the course of 2014.”
“ Today the FX markets will keep an eye on the European PMIs to judge the strength of the incipient recovery in the European economy.”