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EUR/USD remains vulnerable – Westpac

FXStreet (Edinburgh) - Richard Franulovich, Strategist at Westpac, sees the pair’s perspective tilted to the bearish side.

Key Quotes

“USD vulnerable to more downside but EUR does not appear to be the optimal vehicle to position for USD weakness, far from it”.

“EZ advance CPI undershot expectations, while German factory orders and Aug IP both substantially missed expectations, flagging downside risks to ECB growth and inflation projections and keeping the case for a larger and longer lasting ECB QE program firmly in place”.

“With that background EUR probably struggles to capitalise on broader USD weakness”.

“EUR upside likely stymied by strong likelihood of some well-timed missives from various ECB officials if the currency pushes well through 1.15 too. With that background EUR seems set to underperform on crosses amid more potential USD weakness in the near term”.

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