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EUR/USD poised for further declines – BTMU

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Derek Halpenny, European Head of GMR at BTMU has emphasized the negative prospects for the pair in the months to come.

    Key Quotes

    “Monetary policy divergence is the well-known factor undermining EUR/USD but a number of other factors came to the fore yesterday to undermine sentiment and should serve as a reminder that other negative euro risks could emerge going forward”.

    “There were four developments yesterday to worry investors – (1) The first tranche of EUR 2bn for Greece under the new bailout deal with the euro-zone was delayed after a disagreement over household mortgage protection”;

    “(2) The minority government in Portugal fell with a left-leaning anti-austerity coalition voting down the government’s program following the election six weeks ago”;

    “(3) Catalonia passed a resolution in parliament declaring the start of the process toward independence with the text including a directive that court decisions made in Madrid no longer applied in Catalonia”;

    “and (4) According to a spokesman for the Federal Constitutional Court in Germany, there are now three challenges to be heard on the ECB’s QE program”.
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