8 Aug 2013
Flash: EUR/USD - The Eurozone recession is over - welcome stagnation - Societe Generale
FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the biggest data surprise yesterday however was the jump in German industrial production, which has forecasters all excited about a bounce in Q2 GDP.
Key Quotes
“The Euro Zone recession is over. I’m not going to get over-excited (all we get instead is stagnation) but I expect to see; a stronger euro (I’d love a strategic EUR/USD short between 1.35 and 1.40);”
“Bunds on the back foot after so much out-performance vs. the US; more of the world’s yield-seekers heading to Spain; and perhaps a brighter end to the week for risk assets generally. Today sees an ECB Monthly, and US claims data.”
Key Quotes
“The Euro Zone recession is over. I’m not going to get over-excited (all we get instead is stagnation) but I expect to see; a stronger euro (I’d love a strategic EUR/USD short between 1.35 and 1.40);”
“Bunds on the back foot after so much out-performance vs. the US; more of the world’s yield-seekers heading to Spain; and perhaps a brighter end to the week for risk assets generally. Today sees an ECB Monthly, and US claims data.”