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28 Nov 2013
Flash: EUR/USD pressing higher – TDS
FXstreet.com (London) - Strategists at TD Securities noted that stronger regional German CPI reports helped boost EUR/USD to a marginal new high and EUR/JPY to test the 2009 high of 139.14.
Key Quotes:
“The regional German inflation reports point to a better than expected print for the national figure at 8:00AM which should help add to the bid in EUR. They are also a positive sign for broader EZ CPI reports out tomorrow, which should be an important focus for markets considering the US”
“Thanksgiving holiday and in view of the ECB meeting next week. In a broad sense, we remain fundamentally bearish on the EUR (vs. the USD in particular), but we are mindful of the fairly strong seasonal pattern of the past ten years that has tended toward EUR/USD strength through December. With that in mind, we continue to look for topping signals in the coming weeks”.
Key Quotes:
“The regional German inflation reports point to a better than expected print for the national figure at 8:00AM which should help add to the bid in EUR. They are also a positive sign for broader EZ CPI reports out tomorrow, which should be an important focus for markets considering the US”
“Thanksgiving holiday and in view of the ECB meeting next week. In a broad sense, we remain fundamentally bearish on the EUR (vs. the USD in particular), but we are mindful of the fairly strong seasonal pattern of the past ten years that has tended toward EUR/USD strength through December. With that in mind, we continue to look for topping signals in the coming weeks”.