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Trading news

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5 Aug 2013

Flash: EUR to move up – Societe Generale

FXstreet.com (Barcelona) - Sebastien Galy, strategist at Societe Generale notes we are back to yield seeking in a slow month, waiting for September and the next NFP release.

Key Quotes:

“If one wanted a starker contrast between Asia and Europe, PMI releases led the way”.

“Swedish PMI especially new orders were very strong in a country that is typically though off as a capex proxy”.

“The same positive surprise could be seen in the UK and to a far lesser extent in the Eurozone”.

“The combination should help EUR and its satellite currencies to continue drifting higher vs the USD”.

Aug 5, 2013

EUR/USD falls further after ISM data

The EUR/USD extended losses to fresh daily lows after ISM data showed US services sector expanded more than expected in July.

Flash: EUR/USD upside path to 1.3417 in the cards? – UBS

UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses.