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EUR/USD above 1.25 again – DBS

FXStreet (Barcelona) - Analysts at DBS note that better than expected Eurozone Q3 GDP and steady German IFO & ZEW data have aided the EUR/USD pair to regain 1.25 levels.

Key Quotes

“In the Eurozone, EUR/USD is above 1.25 again. Germany’s IFO and ZEW data have stopped falling and the latest 3Q GDP report for Eurozone turned out better-than-expected. A debate has also emerged that monetary policy alone cannot do all the heavy lifting to revive growth.”

“Even so, EUR can expect some volatility today. European Central Bank (ECB) Pres¬ident Mario Draghi will be speaking this evening in Helsinki and markets have come to expect him to push the euro down with his QE talk.”

“Draghi’s talk will be followed by another speech by ECB Council Member Jens Weidmann in Frank-furt. Weidmann does not favor QE. Weidmann sees QE as close to monetizing debt and is known to oppose Draghi for wanting to steer monetary policy closer towards the US and Japan.”

“Taking a more balance position, ECB member Vitor Constancio indicated that the ECB will probably wait till 1Q15 before making a decision.”

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