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Expect weak Euro on weaker Euro data and possible central bank rhetoric – RBS

FXStreet (Delhi) – Nick Mannion, FX Strategist at RBS, suggest that there are more prospects that the EUR weakens versus the USD and GBP on weaker Euro area data and possible central bank rhetoric.

Key Quotes

“European PMI data were also slightly weaker yesterday, and this appeared to help push the EUR lower.”

“Data coming out of Europe continues to point to tepid growth, and German factory orders data this morning was no exception, with the August numbers growing at 1.9% year-on-year versus 5.6% expected by consensus. This undershoot in the data compared to expectations follows a recent dip of inflation data into deflationary territory.”

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