29 Apr 2014
EUR still resilient - Investec
FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, remarks the current resilience of the EUR.
Key Quotes
"EURUSD continued to look like it wanted to go higher but failed to break through topside resistance. German inflation will be the key data from Europe today ahead of full Eurozone inflation later in the week."
"Comments from ECB President Mario Draghi failed to have any lasting impact on the market after he said the ECB is still far from engaging in large-scale bond purchases to bolster Europe's economic recovery. Overnight, AUD lost ground after China's banking regulator has urged local authorities and banks to step up an investigation into iron ore financing deals in an effort to minimise default risks. Iron ore futures prices fell nearly 5% dragging AUD lower, as the commodity currency took the brunt of the sentiment change."
Key Quotes
"EURUSD continued to look like it wanted to go higher but failed to break through topside resistance. German inflation will be the key data from Europe today ahead of full Eurozone inflation later in the week."
"Comments from ECB President Mario Draghi failed to have any lasting impact on the market after he said the ECB is still far from engaging in large-scale bond purchases to bolster Europe's economic recovery. Overnight, AUD lost ground after China's banking regulator has urged local authorities and banks to step up an investigation into iron ore financing deals in an effort to minimise default risks. Iron ore futures prices fell nearly 5% dragging AUD lower, as the commodity currency took the brunt of the sentiment change."