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8 Jan 2014
Flash: Break of weekly low could see EUR/USD slide - BBH
FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that Germany reported a 2.1% rise in November factory orders, completely offsetting the October decline and pointing to potential upside tomorrow's industrial production report.
Key Quotes
“Neither this nor the 1.4% gain in euro area November retail sales managed to stem the erosion of the euro.”
“A break of this week's low just above $1.3570 could spur a quick move toward last month's lows near $1.3525.”
“The risk is that some speculative euro longs are pared ahead of Draghi's press conference tomorrow, where the risk is for dovish comments in lieu of more immediate action.”
Key Quotes
“Neither this nor the 1.4% gain in euro area November retail sales managed to stem the erosion of the euro.”
“A break of this week's low just above $1.3570 could spur a quick move toward last month's lows near $1.3525.”
“The risk is that some speculative euro longs are pared ahead of Draghi's press conference tomorrow, where the risk is for dovish comments in lieu of more immediate action.”