25 Aug 2015
Sell the spike in EUR/USD? – Societe Generale
FXStreet (Edinburgh) - The current levels of the pair could prompt investors to fade the rally, suggested Kit Juckes, Strategist at Societe Generale.
Key Quotes
“Strong net exports have helped Germany to a 0.4% q/q and 1.6% annual GDP increase, but there’s not much on the domestic demand side to write how about”.
“IFO survey data are due in a short while, but across Europe, there’s been a lacklustre feel to the most recent economic data”.
“Is this spike above 1.15 in EUR/USD a strategic opportunity set fresh shorts or are there more positions to be flushed out?”.
“The longer I sit in this chair this morning, the longer I lean towards the conclusion that this is as good a level to get short EUR/USD as any”.
“And if equity indices going on being pummelled, we could see some downside in EUR/JPY too”.
Key Quotes
“Strong net exports have helped Germany to a 0.4% q/q and 1.6% annual GDP increase, but there’s not much on the domestic demand side to write how about”.
“IFO survey data are due in a short while, but across Europe, there’s been a lacklustre feel to the most recent economic data”.
“Is this spike above 1.15 in EUR/USD a strategic opportunity set fresh shorts or are there more positions to be flushed out?”.
“The longer I sit in this chair this morning, the longer I lean towards the conclusion that this is as good a level to get short EUR/USD as any”.
“And if equity indices going on being pummelled, we could see some downside in EUR/JPY too”.