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EUR/USD neutral in the near-term – Westpac

FXStreet (Edinburgh) - Strategists at Westpac noted the neutral outlook on the pair in the short-term.

Key Quotes

EUR/USD remains a range trade for the time being, with ECB’s Draghi talking about taking time to consider the implications of EM volatility and the market jaded with hawkish Fed talk”.

“The medium term direction however seems clear given Dec Fed lift off odds are underpriced, as is the prospect of an expanded ECB QE program over the next 3-6 months”.

“Neutral for the moment, but expecting clearer signs of weakness into year-end”.

“Price has stabilised above key medium term support towards 1.1100. Momentum is low. Our conviction is low”.

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