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Forex Flash: EUR/USD down to 1.25 in medium-term – Scotiabank

FXstreet.com (Barcelona) - Strange day for the shared currency so far, making it all the way to 1.3080 just to fall since then to session lows around 1.2990 despite the context favouring the risk appetite.

Strategist Camilla Sutton at Scotiabank commented that expectations for a rate cut by the ECB have been building up recently, although its effectiveness remains blurred. “Increasingly we think the bias is for an ECB rate cut and a new program aimed at easing the SME’s access to credit… The lack of progress on a full banking union including deposit insurance could begin to weigh on EUR again later this spring”.

“EUR appears quite comfortable trading between its 200‐day MA at 1.2945 and the 100‐day at 1.3156. Over the medium term we expect EUR to trend lower, back towards 1.25”, suggested Sutton.

Forex: USD/CHF falls below 0.9450 after rejecting 0.9485

The US Dollar is currently trading lower against the Swiss Franc with the USD/CHF falling around around 35 pips from intra-day high at 0.9485 to traded below the 0.9450 at 0.9440. The pair rose from 0.9420 to peak at 0.9485 following the US jobless claims data but pair was unable to hold positions and at this moment the cross is pricing at 0.9445.
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