With the underlying risk-off tilt still likely in place, Terence Wu, FX strategists at OCBC Bank, expects the broad USD to stay buoyant into the end of the week. The analyst is also turning more negative on the euro on the back of softening macro recovery and a return to increased restrictions. The EUR/USD pair is currently trading at 1.1675, representing a 1.4% decline on a week-to-date basis. Key quotes “No change in our stance that the EUR/USD pair should be biased lower, given that data releases continue to underperform and virus cases pick up.” “Downside momentum should be accelerated once the 1.1650 handle is breached convincingly.” “Note that short-term implied valuations have already turned south, with spot now 2 SD higher than the implied EUR/USD value.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/TRY: Markets need to see more clarity from CBRT, lira weakness to linger – TDS FX Street 2 years With the underlying risk-off tilt still likely in place, Terence Wu, FX strategists at OCBC Bank, expects the broad USD to stay buoyant into the end of the week. The analyst is also turning more negative on the euro on the back of softening macro recovery and a return to increased restrictions. The EUR/USD pair is currently trading at 1.1675, representing a 1.4% decline on a week-to-date basis. Key quotes “No change in our stance that the EUR/USD pair should be biased lower, given that data releases continue to underperform and virus cases pick up.” “Downside momentum should be accelerated… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
