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28 Jan 2015
EUR core risk being today’s FOMC statement – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, shares that EUR is weak as Greek opens door to re‐negotiating debt, further adding that the core risk for the single currency will be today’s FOMC statement.
Key Quotes
“EUR is soft, down 0.2%, but still well above recent lows. The range today has been narrow, with Greek opening the door to debt talks with international partners proving a weight. Fundamental data was essentially ignored but included falling important prices –3.7% y/y and a rising GfK consumer confidence. The core risk is today’s FOMC statement.”
“EURUSD short‐term technicals: bearish, however there has been a slight easing in momentum and spot’s ability to close above 1.1366 yesterday does suggest some easing in downside pressure.”
“Support today comes in at yesterday’s open of 1.1239 followed by 1.1200; while resistance comes in at 1.1420.”
Key Quotes
“EUR is soft, down 0.2%, but still well above recent lows. The range today has been narrow, with Greek opening the door to debt talks with international partners proving a weight. Fundamental data was essentially ignored but included falling important prices –3.7% y/y and a rising GfK consumer confidence. The core risk is today’s FOMC statement.”
“EURUSD short‐term technicals: bearish, however there has been a slight easing in momentum and spot’s ability to close above 1.1366 yesterday does suggest some easing in downside pressure.”
“Support today comes in at yesterday’s open of 1.1239 followed by 1.1200; while resistance comes in at 1.1420.”