1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

Low volume rally can propel EURUSD into 1.11/1.12 trajectory - Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Delhi) – Richard Franulovich, Research Analyst at Westpac, suggests that they are neutral EUR right here though would not be surprised to see a low volume rally into 1.11/1.12 if the FOMC statement next week elevates concerns about global and market developments.

    Key Quotes

    “Would not get too carried away though - the plunge in energy prices and the higher EUR TWI will punch a hole in the ECB’s infl ation forecasts and could trigger fresh easing in March when the staff ’s forecasts are updated.

    GBP probably needs to consolidate its sharp fall for a while. However a toxic brew of Brexit risk and near zero prospects of a BoE hike this year and possibly until well into 2017 should continue to weigh.

    CHF’s inability to benefit from recent market turmoil is a potentially telling insight into the poor underlying fundamentals on the currency, notably extreme overvaluation and negative cash rates.”
    For more information, read our latest forex news.

Share This Page