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31 Oct 2014
EUR/USD downtrend set to continue in the coming weeks - UBS
FXStreet (Córdoba) - EUR/USD dipped below 1.2500 Friday for the first time in over 2 years, and according to the UBS analyst team, the downtrend set to continue in the coming weeks.
Key Quotes
"The flash estimate for European inflation signalled a slight rebound from 0.3% to 0.4% yoy in October, despite a surprising fall of inflation in Germany".
"FX markets did, however, take little notice, as the USD was underpinned by the latest Japanese easing measures and the a positive surprise in the Chicago PMI, which soared to strongly expanding territory at 66.2".
"EUR/USD dipped below 1.25 on that data point. We think the downtrend will continue in the coming weeks".
Key Quotes
"The flash estimate for European inflation signalled a slight rebound from 0.3% to 0.4% yoy in October, despite a surprising fall of inflation in Germany".
"FX markets did, however, take little notice, as the USD was underpinned by the latest Japanese easing measures and the a positive surprise in the Chicago PMI, which soared to strongly expanding territory at 66.2".
"EUR/USD dipped below 1.25 on that data point. We think the downtrend will continue in the coming weeks".