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3 Jun 2014
EUR well supported around 1.3600 - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, notes there is decent support for the EUR in the boundaries of 1.3600 the figure.
Key Quotes
"The release yesterday of the weaker than expected German CPI report for May has provided further justification for the ECB to deliver monetary easing at this week’s policy meeting. The annual rate of EU harmonized headline inflation slowed sharply to just 0.6% in May."
"The monthly change in headline inflation over the last nine months has averaged 0.0%M/M highlighting the lack of inflation pressures recently evident in the German economy. The weaker than expected German CPI report has increased downside risks for the release today of the euro-zone CPI report for May. However, the euro appears likely to remain relatively stable ahead of this week’s ECB meeting with EUR/USD continuing to find support in the near-term around the 1.3600-level."
Key Quotes
"The release yesterday of the weaker than expected German CPI report for May has provided further justification for the ECB to deliver monetary easing at this week’s policy meeting. The annual rate of EU harmonized headline inflation slowed sharply to just 0.6% in May."
"The monthly change in headline inflation over the last nine months has averaged 0.0%M/M highlighting the lack of inflation pressures recently evident in the German economy. The weaker than expected German CPI report has increased downside risks for the release today of the euro-zone CPI report for May. However, the euro appears likely to remain relatively stable ahead of this week’s ECB meeting with EUR/USD continuing to find support in the near-term around the 1.3600-level."