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EUR/USD sitting below 1.1000 ahead of ECB this week - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Analysts at Scotiabank explained that spot remains relatively contained in a tight range ahead of the ECB policy meeting Thursday.

    Key Quotes:

    "The EUR looks modestly better offered, reflecting the bounce in equities and the EUR’s status as a funding vehicle for leveraged/carry trades.

    The market has looked stalled below 1.10 since December but risks may be tilted a little more to the downside near-term if equities can steady and if ECB President Draghi maintains a dovish bias at Thursday’s policy meeting.

    Data releases have had little impact on the EUR; German final CPI was unchanged at 0.2% y/y while the January ZEW survey dropped to 10.2 (from 16.1 – but was still above market expectations of 8.0)."
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