Flash: EUR/USD target reached – Nomura

FXstreet.com (London) - Strategist at Nomura said that they we have reached our near-term target in EURUSD of 1.37-1.38.

“But we are not convinced that the move has fully run its course”.

“For example, we don't think the ECB is quite ready to start fighting this move and we believe a test of 1.40 is possible this year (more on this to follow)”.

“As such, we are inclined to stick with a neutral to negative trading stance on the USD for now”.

Are metals picking up on greenback’s numbness?

Metals advanced throughout the journey with gold reaching monthly highs after extending the upward trendline since October 15th, reversal day.
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Session Recap: More data affirming Status Quo; EUR/USD breaks above 1.3800

Thursday won't pass to the history as the biggest day in financial markets, but certainly economic data reinforced the sensation that the status quo, including QE in the US, is here to stay. Investors switched sentiment about China as factory data showed good results and the Markit PMI reported weaker than expected US shape in October. Stocks recovered its mojo and the USD remained under pressure.
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