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EUR/USD: Prospects of a test towards 1.2600 loom - OCBC

FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, notes that prospects of a test towards 1.2600 in EUR/USD loom.

Key Quotes

"Apart from the disappointing data points, the EUR was also weighed by Fitch putting the ratings of France on Rating Watch Negative and growth downgrades from the German government. Expect potential for further bearishness with the ECB’s Draghi scheduled to make two appearances today and German September inflation numbers also on tap. With the pair dissolving below 1.2700 once again, prospects of a test towards 1.2600 may once again loom with markets likely to fade any upticks intra-day."

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