4 Sep 2013
Flash: EUR/USD: Europe - as good as it gets - Societe Generale
FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale notes the Euro Area should confirm a composite PMI reading of 51.7, the best level since 2011.
Key Quotes
“Bono/Bund spreads are testing 2.5%. EUR/USD has found a little support and EUR/CHF has bounced impressively off its 200-day moving average support line. But the Euro still gives a clear impression of having run out of steam as the rates market can’t keep on following the US blindly.”
“We’re unlikely to see fireworks today but sticking long in rates and short of EUR and CHF is one trade which probably does OK in the short and medium terms.”
Key Quotes
“Bono/Bund spreads are testing 2.5%. EUR/USD has found a little support and EUR/CHF has bounced impressively off its 200-day moving average support line. But the Euro still gives a clear impression of having run out of steam as the rates market can’t keep on following the US blindly.”
“We’re unlikely to see fireworks today but sticking long in rates and short of EUR and CHF is one trade which probably does OK in the short and medium terms.”