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17 May 2013
Flash: Some good news for Europe finally - BTMU
FXstreet.com (Barcelona) - Derek Halpenny, European Head of Global Markets Research at the Bank of Tokyo Mitsubishi UFJ notes that finally, there is a little piece of good news for Europe.
He sees that the new car registration data showing the first increase in registrations in Europe in nineteen months, and registrations jumped 1.8% in April on an annual basis fueled by demand in the UK and Germany. Year-to-date sales are still 7% lower from a year earlier but at least we now have some evidence of improvement. He writes, “We continue to expect the euro to hold in and remain within distance of the 1.3000 level. Strong portfolio inflows and a substantially healthier current account position means good underlying euro demand.”
He sees that the new car registration data showing the first increase in registrations in Europe in nineteen months, and registrations jumped 1.8% in April on an annual basis fueled by demand in the UK and Germany. Year-to-date sales are still 7% lower from a year earlier but at least we now have some evidence of improvement. He writes, “We continue to expect the euro to hold in and remain within distance of the 1.3000 level. Strong portfolio inflows and a substantially healthier current account position means good underlying euro demand.”