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ECB: favour fading gains - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Shaun Osborne Chief FX Strategist at Scotiabank noted that spot remains stuck in a range.

    Key Quotes:

    "We note that the EUR’s negative, short-term correlation (rolling 1-month) with the (US) equity market performance remains relatively elevated (-64%) but the EUR appears to have found less traction on this week’s equity market swings overall."

    "The trading range that has held since the December ECB policy meeting remains more or less intact. We see no scope for additional policy measures at Thursday’s ECB meeting but we still rather favour fading EUR gains, given the low inflation environment confronting the ECB."

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