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Monday passes us by – FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet said Monday passed by, adding nothing new to the general outlook of currencies, with thin conditions due to Labor Day in the US and the expectation on ECB, BOE and US Payroll numbers by the end of the week.

Key Quotes:

“From a fundamental side, in Europe, Markit Manufacturing PMI’s shown the economic contraction continues, with most of the local numbers down, EZ one to 50.7 and French one steady below the line of growth at 46.9”.

“Sentiment around the EUR remains strongly bearish, with latest COT report showing net short now at their largest since July 2013, on speculation the ECB will do further easing”.

“USD longs rose to levels also not seen over a year, mostly against EUR and JPY shorts”.

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