OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: Euro calm after Junker commentary – BTMU

FXstreet.com (Barcelona) - The euro has also stabilized following comments from Eurogroup Chair Juncker describing the euro as “dangerously high” which have helped to dampen upward momentum in the near-term notes Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ.

He feels that the impact of Juncker’s comments was somewhat weakened yesterday when ECB council member Nowotny stated that the Euro exchange rate is “not a matter of major concern” while also offering his view that he doesn’t see a long-term upward trend for the Euro.

The Euro still remains under upward pressure in the near-term as both confidence in Euro-zone assets is returning, and the ECB is being out-eased by other major central banks despite the Euro-zone economy under performing.

He finishes by writing, “The rise of the Euro can be viewed as a positive sign that the Eurozone debt crisis is easing and/or a negative sign that the Eurozone is currently losing a currency war to weaken domestic currencies to support growth. It is a dynamic that we anticipate will likely pressure the ECB to resume easing monetary policy later in 2013 weighing upon the Euro.”

Forex Flash: Bund rally continues after bullish opening – RBS

“Bunds opened higher with a bullish gap, pointing to a likely continuation of the move upwards after reaching the first target of 143.30 and taking a breather in the nearby region. The next targets include 143.78 and 144.17, which are Fibonacci retracements from the January 2013 sell-off.” Suggests Technical Strategist Dmytro Bondar at RBS.
Read more Previous

Spain 5-y Bond Auction decreases to 3.77% from 3.988%

Read more Next
Start livechat