20 Nov 2013
Flash: EUR overpowered by weak USD yesterday - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that mixed data and dovish ECB commentary failed to overcome USD weakness yesterday.
Key Quotes
“A mixed November German ZEW reading and still dovish comments from the ECB’s Asmussen and Constancio failed to arrest a weak dollar tone with the EUR/USD still managing to end higher on the day.”
“We are turning increasingly neutral on the EUR-USD for the near term with the pair having lifted off its 55-day MA (1.3516) on Tuesday. In the interim, the next visible resistance is expected at 1.3600.”
Key Quotes
“A mixed November German ZEW reading and still dovish comments from the ECB’s Asmussen and Constancio failed to arrest a weak dollar tone with the EUR/USD still managing to end higher on the day.”
“We are turning increasingly neutral on the EUR-USD for the near term with the pair having lifted off its 55-day MA (1.3516) on Tuesday. In the interim, the next visible resistance is expected at 1.3600.”