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EUR/USD: Threat of testing 1.15 level still exists – SocGen

FXStreet (Delhi) – Kit Juckes, Research Analyst at Societe Generale, suggests that the threat of the EUR/USD testing 1.15 remains in place.

Key Quotes

“Tomorrow's ECB Bank Lending Survey will probably show a further modest improvement in loan demand and the ECB will probably do no more than sound dovish, which wouldn't get in the way of the euro's gradual appreciation.”

“The Treasury/Bund spread continues to trade in a narrow range, while the underlying trend is still for slow tightening that supports the euro. This will also tend to support a gradual rise in EUR/GBP as the UK starts the week with no data of note due until Thursday, when retail sales should be reasonably robust (core retail sales+ 0.4% m/m).”

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