KBC Bank analysts suggest that for the EUR/USD pair, the picture remains rather cautious/diffuse as it is influenced both by domestic EMU related issues (ECB etc.) but also by the market view on global growth.
Key Quotes
“Yesterday, positive risk sentiment turned out to be mildly EUR/USD supportive. Still, the pair is still rather close to the bottom of the 1.12/16 trading.”
“Given last week’s ECB decision, the euro has no prospect on interest rate support anytime soon.”
“We remain cautious on EUR/USD long exposure. The single currency needs better EMU eco data. Brexit headlines remain a wildcard for euro trading today.”
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