Back
6 Sep 2013
Flash: EUR/USD maintains long-term bearish outlook – TD Securities
FXstreet.com (Lisbon) - The TD Securities Team analyzes the long-term outlook of the EUR/USD.
Key quotes
“Draghi made more concerted efforts than expected to emphasize the downside risks at yesterday’s ECB meeting, and the consequent pressure on EUR/USD saw a close below the important 100– and 200-day moving average supports.”
“German-US spreads have also continued widening, reinforcing the move in the spot FX rate (see below). The contrast of better US data has been an important factor in the move lower for EUR/USD as well (especially yesterday’s ISM), and the focus continued with the US labor report this morning. We still remain longer-term bearish on the pair.”
Key quotes
“Draghi made more concerted efforts than expected to emphasize the downside risks at yesterday’s ECB meeting, and the consequent pressure on EUR/USD saw a close below the important 100– and 200-day moving average supports.”
“German-US spreads have also continued widening, reinforcing the move in the spot FX rate (see below). The contrast of better US data has been an important factor in the move lower for EUR/USD as well (especially yesterday’s ISM), and the focus continued with the US labor report this morning. We still remain longer-term bearish on the pair.”