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3 Jun 2014
EUR/USD to remain pressured - OCBC
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC, thinks that EUR/USD will remain under the weather.
Key Quotes
"Softer than expected EZ manufacturing PMIs and German May inflation readings weighed on the common currency ahead of the ECB on Thursday."
"Today, EZ inflation numbers are due and expect the EUR to remain under the weather in the interim, especially on the back of yet more dovish rhetoric from the ECB’s Linde and Nowotny."
" In the interim, the 200-day MA (1.3646) may continue to limit upside potential while 1.3585 may continue to attract pending EZ PMI releases later today."
Key Quotes
"Softer than expected EZ manufacturing PMIs and German May inflation readings weighed on the common currency ahead of the ECB on Thursday."
"Today, EZ inflation numbers are due and expect the EUR to remain under the weather in the interim, especially on the back of yet more dovish rhetoric from the ECB’s Linde and Nowotny."
" In the interim, the 200-day MA (1.3646) may continue to limit upside potential while 1.3585 may continue to attract pending EZ PMI releases later today."