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15 Apr 2015
USD favoured today – KBC
FXStreet (Barcelona) - The KBC Bank Research Team favours the Dollar against the Euro, noting that risks are tilted to the downside for EUR/USD for a test of 1.0463 levels.
Key Quotes
“The dollar’s fate will depend on the US data (mixed expected), Beige Book (end of residual market expectations June lift-off) and the ECB meeting (dovish).”
“The market may be slightly more neutral following yesterday’s euro rebound, but the euro shorts should still be in large majority. In this context and given the laws of gravity that currently reign on the EUR/USD pair, we marginally favour the dollar today. We confirm our long term and short term bullish outlook for the dollar (against euro).”
“EUR/USD may go for a test lower (1.0463 and 1.0371), but given the outspoken short position of the euro we still prefer a sell-on-upticks of EUR/USD, preferable near 1.0712 or 1.1098.”
Key Quotes
“The dollar’s fate will depend on the US data (mixed expected), Beige Book (end of residual market expectations June lift-off) and the ECB meeting (dovish).”
“The market may be slightly more neutral following yesterday’s euro rebound, but the euro shorts should still be in large majority. In this context and given the laws of gravity that currently reign on the EUR/USD pair, we marginally favour the dollar today. We confirm our long term and short term bullish outlook for the dollar (against euro).”
“EUR/USD may go for a test lower (1.0463 and 1.0371), but given the outspoken short position of the euro we still prefer a sell-on-upticks of EUR/USD, preferable near 1.0712 or 1.1098.”