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Credit Agricole: EUR broadly weaker - eFXnews

FXStreet (Łódź) - The eFXnews team remark that the Credit Agricole sees EUR losing strength following the release of the disappointing German business confidence numbers and the break of some key technical levels against the USD.

Key quotes

"Indeed, the takeaway from the release of the recent ‘soft’ indicators is that uncertainty about the trend of the German economy has increased, adding downside risks to the growth and inflation backdrop in the EZ."

"Nevertheless, we still think the risks of a EUR correction are rising in the very short term but we would look for entry points to short EUR against USD, GBP, CAD and AUD."

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