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28 May 2015
EUR downtrend remains intact – ANZ
FXStreet (Edinburgh) - According to analysts at ANZ, the broader bearish trend in the single currency remains unchanged despite occasional bullish attempts.
Key Quotes
“In time, therefore, we expect the US data to improve, and this will bring expectations over FOMC tightening more to the fore. That should support the dollar against the backdrop of robust forward guidance from the ECB that interest rates will stay low for a long time”.
“Whilst we are sceptical that the euro’s trend has reversed, one can never rule out a more permanent shift in sentiment and we are vigilant of that”.
“For the moment, EUR/USD seems to be establishing a 1.05-1.15 range and downside risks dominate”.
Key Quotes
“In time, therefore, we expect the US data to improve, and this will bring expectations over FOMC tightening more to the fore. That should support the dollar against the backdrop of robust forward guidance from the ECB that interest rates will stay low for a long time”.
“Whilst we are sceptical that the euro’s trend has reversed, one can never rule out a more permanent shift in sentiment and we are vigilant of that”.
“For the moment, EUR/USD seems to be establishing a 1.05-1.15 range and downside risks dominate”.