Flash: Euro bears frustrated by fundamental developments - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts suspect the euro bears may be frustrated by the fundamental developments of the Eurozone.

They feels that these frustrations come in the form of upticks in the final reading of the May PMIs and an ECB that refrains from pushing the deposit rate below zero. They write, “Nor do we expect US non-farm payrolls to re-accelerate significantly from the 152k of the previous two months, which is marked slower than then the 240k pace seen in the prior two-month period.”