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EUR: better risk reward else where - Scotiabank

FXStreet (Barcelona) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that the euro failed to react to yesterday’s decision by Fitch to place France on negative outlook and today’s CPI print from Germany was as expected at 0%m/m and 0.8%y/y.

Key Quotes:

"Tomorrow’s CPI release form the Eurozone is expected to come in at the flash estimate of 0.3% y/y on headline and 0.7%y/y on core—a disinflationary trend that has been well priced into markets already”.

“EUR continues to show signs of stabilizing; however by year‐end we expect it will have reached a fresh low."

"EUR/USD short‐term technicals: mixed—warning that without a unified technical outlook there is better risk reward elsewhere.

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