Martin Enlund and Andreas Steno Larsen, analysts at Nordea offered some FX quickies for those of a tactical persuasion.
Key Quotes:
- “EUR/USD: still slightly downwards biased, with resistance on the upside around 1.1448.”
- “EUR/NOK: rising liquidity a seasonal problem for the NOK even as a first rate hike beckons. Shorts should stay away until mid-September. If EUR/NOK reaches 9.80 before mid-September, this would be very attractive levels to re-enter a short from.”
- “EUR/SEK: Swedish politics and weak inflation has paved the way for an upside break-out. We still recommend to buy-on-dips.”
- “EUR/GBP: Sell on rallies above 0.90, as Bank of England doesn’t tolerate a much weaker GBP.”
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