25 Mar 2014
What’s the sentiment around the EUR/USD today? – Danske Bank and Commerzbank
FXStreet (Edinburgh) - The EUR/USD is sidelined around the 1.3830/35 area on Tuesday, as market participants area waiting for the results from the German IFO indicator.
Lars Christensen, Chief Analyst at Danske Bank, noted that “Overall, however, euro-zone business survey data remain within the ECB’s comfort zone and minor deterioration in data is not expected to trigger any immediate ECB easing… EUR/USD still seems to be supported by relative performance in macro data between EU and US and despite the hawkish comments from the Fed last week we still expect EUR/USD to trend higher in the coming months and eventually to break above the 1.40 level”.
“EUR/USD recovered yesterday, but has not done enough to restore the upmove… We remain of the view that the market has recently topped and is likely to come under increasing downside pressure”, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Lars Christensen, Chief Analyst at Danske Bank, noted that “Overall, however, euro-zone business survey data remain within the ECB’s comfort zone and minor deterioration in data is not expected to trigger any immediate ECB easing… EUR/USD still seems to be supported by relative performance in macro data between EU and US and despite the hawkish comments from the Fed last week we still expect EUR/USD to trend higher in the coming months and eventually to break above the 1.40 level”.
“EUR/USD recovered yesterday, but has not done enough to restore the upmove… We remain of the view that the market has recently topped and is likely to come under increasing downside pressure”, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.