3 Dec 2013
Flash: EUR/USD muddled on Eurozone data - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank notes that the fundamental picture for EUR/USD looks blurred.
Key Quotes
“Although the EZ and German manufacturing PMIs for November were supported, weak readings out of France and Spain stymied the EUR on Monday.”
“Expect markets to potentially stay top heavy after overnight price action, with the 55-day MA (1.3560) an immediate resistance while 1.3500 and then 1.3450 are expected to present themselves as interim supports.”
Key Quotes
“Although the EZ and German manufacturing PMIs for November were supported, weak readings out of France and Spain stymied the EUR on Monday.”
“Expect markets to potentially stay top heavy after overnight price action, with the 55-day MA (1.3560) an immediate resistance while 1.3500 and then 1.3450 are expected to present themselves as interim supports.”