6 Feb 2014
Flash: EUR/USD bears eyes on 1.33 - Societe Generale
FXStreet (Córdoba) - Kit Juckes, Global Head of Currency Strategy at Societe Generale has his eyes on EUR/USD 1.33 incase of a bout of bearish sentiment.
Key Quotes
"A break of the November 7 EUR/USD low of 1.33, would open the way for an outbreak of bearish sentiment. This will happen in due course, but is more likely to be triggered by either more dramatic ECB action than anyone expects today (negative rates, something that looks much more like ‘proper QE’), or by a shift upwards in US rate expectations that is also not imminent.”
“The upshot is that we will re-assess if we see a break of 1.33, but otherwise, look for
a very, very slow move down in EUR/USD."
Key Quotes
"A break of the November 7 EUR/USD low of 1.33, would open the way for an outbreak of bearish sentiment. This will happen in due course, but is more likely to be triggered by either more dramatic ECB action than anyone expects today (negative rates, something that looks much more like ‘proper QE’), or by a shift upwards in US rate expectations that is also not imminent.”
“The upshot is that we will re-assess if we see a break of 1.33, but otherwise, look for
a very, very slow move down in EUR/USD."