10 Feb 2014
Flash: EUR/USD supported by Non Farm Payrolls - Danske Bank
FXStreet (Barcelona) - Anders Vestergård Fischer, Analyst at Danske Bank notes that EUR/USD gained further support Friday on the back of the weak US labour market report.
Key Quotes
“However, while the lack of further monetary easing from the ECB and the possibility of US macro data disappointing in the coming months might support the cross near term, we still look for EUR/USD to edge lower in the medium to long term as the Fed is expected to continue to taper its bond purchase programme.”
“The latest IMM data, released on Friday, showed that speculative investors sold EUR/USD ahead of the ECB meeting where speculative investors went from being net long EUR to net short. EUR positioning remains, however, in neutral territory, indicating that there is plenty of room for both up- and downside in the cross from a positioning point of view.”
Key Quotes
“However, while the lack of further monetary easing from the ECB and the possibility of US macro data disappointing in the coming months might support the cross near term, we still look for EUR/USD to edge lower in the medium to long term as the Fed is expected to continue to taper its bond purchase programme.”
“The latest IMM data, released on Friday, showed that speculative investors sold EUR/USD ahead of the ECB meeting where speculative investors went from being net long EUR to net short. EUR positioning remains, however, in neutral territory, indicating that there is plenty of room for both up- and downside in the cross from a positioning point of view.”