29 May 2014
We remain EUR short - Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, still prefers to short the EUR.
Key Quotes
"The economic news yesterday was dominated by the rise in German unemployment and the further slowdown in money supply growth. Pressure on the ECB to ease has grown further, if that was even possible and EUR/USD has broken below 1.36."
"With much of Europe celebrating Ascension Day and no significant economic data due, we may see little follow-through from here, but we remain short EUR against a European basket (NOK, GBP, PLN, TRY). Against the dollar, lower US yields will only partially negate the negative Euro sentiment."
Key Quotes
"The economic news yesterday was dominated by the rise in German unemployment and the further slowdown in money supply growth. Pressure on the ECB to ease has grown further, if that was even possible and EUR/USD has broken below 1.36."
"With much of Europe celebrating Ascension Day and no significant economic data due, we may see little follow-through from here, but we remain short EUR against a European basket (NOK, GBP, PLN, TRY). Against the dollar, lower US yields will only partially negate the negative Euro sentiment."