OctaFX | OctaFX Forex Broker
Open trading account

What’s the sentiment around EUR/USD today? – Commerzbank and Danske Bank

FXStreet (Edinburgh) - EUR/USD is clinging to the 1.2500 handle at the beginning of the week, waiting for the economic growth forecasts by the European Commission.

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair “has tested the 1.2460/78.6% retracement support, which is holding and we would allow for a small retracement near term. A close below here is needed to trigger the next leg down to the 200 month ma at 1.2225.

Furthermore, Senior Analyst Anders lumholtz at Danske Bank, suggested, “we expect that ECB easing expectations will continue to weigh on the cross and moreover, we expect another decent labour market report next week (we expect non-farm payrolls at 240K), which could lend more support to the USD in the short term. Hence, any bounce in EUR/USD is expected to be short lived and we still target EUR/USD at 1.22 in 3M”.

Spain Unemployment Change came in at 79.2K, above forecasts (23.4K) in October

Read more Previous

Bill Gross warns about falling inflation expectations in the US

The action in the Treasuries shows inflation expectations are falling in 2014 by the most in three years. Famed bond investor Bill Gross warned investors to brace up for a period of falling prices. “Deflation is a “growing possibility” as governments worldwide struggle to stimulate their economies”, said Bill Gross .
Read more Next
Start livechat