OctaFX | OctaFX Forex Broker
Open trading account
Back

Consider to buy USD on falls - Danske

FXStreet (Łódź) - Pernille Bomholdt Nielsen from Danske suggests that in the near term we could see EUR/USD consolidating on weaker USD data.

Key quotes

"Rising concerns about the global growth outlook weigh on market sentiment and yesterday the USD declined further driven by the very weak US retail sales where EUR/USD temporarily spiked above 1.2840 while USD/JPY was briefly seen below 105.50."

"Discussion of first hikes in the US and UK is pushed in the background currently and instead increased speculation about whether the Fed could restart bond buying if the economic deteriorates might increase headwinds for the USD in the short term. For the same reason, the speeches from a series of FOMC members will be watched closely today."

"We think EUR/USD is likely to consolidate on weaker US data and positioning in the near term and we expect that 1.30/1.31 will provide strong resistance as a possible EUR bounce to give way to the next leg of EUR weakness as the ECB will have to do more to lift inflation expectations. Hence, it should still be considered to buy USD on falls."

Netherlands, The Unemployment Rate s.a (3M) remains at 8% in September

Read more Previous

US Ten-year Treasury yields hover above 2%.

The US ten-year treasury yields, which fell to their lowest level since May 2013 yesterday, are hovering above the 2% mark.
Read more Next
Start livechat