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

FXStreet (Edinburgh) - EUR/USD is recovering the upper-1.2400s after Friday’s deep pullback, ahead of the US data releases.

“We expect EUR/USD to grind lower on monetary and growth divergence. We expect the ECB to reach for more tools in early 2015, paving the way for further EUR weakness”, signaled Thomas Harr, Chief Analyst at Danske Bank.

Furthermore, FX Strategist at OCBC Bank Emmanuel Ng argues “we think the slight EUR uptick this week may have more t to do with a lack of a stronger dollar impetus (which may well reawakened given the heavy US data flow tonight) and if 1.2500 is not breached meaningfully, expect the 1.2350-1.2400 zone to continue to beckon”.

GDP in focus for GBP – BTMU

Derek Halpenny, European Head of GMR at Bank of Tokyo-Mitsubishi UFJ, notes that the pound is unlikely to respond much to the release of the first revision to Q3 GDP today.
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Brent futures trade near USD 78.20, Saudi Oil Minister says market “will stabilize itself”

Brent Crude declined today after Saudi Oil Minister said the market would stabilize itself, while the Oil and Petroleum Exporting Countries (OPEC) group failed to pledge output cuts before the OPEC meet tomorrow.
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