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10 Sep 2013
Flash: EUR/USD a decent sell in upper 1.32s – TD Securities
FXstreet.com (Lisbon) - The EUR/USD has not participated in the optimism in Europe, with a disappointing French industrial production figure helping to cap gains over the past two trading days, notes the TD Securities Team.
Key quotes
“It’s also worth noting that German-US yield spreads, while slightly tighter over the past two days, do not corroborate the move higher in the FX spot rate. For the North American session, a speech by the ECB’s was the main European highlight, while Syrian headlines should continue to be a dominant force as well.”
“Broadly speaking, we continue to view the broader trend for EUR/USD as lower, and while there is scope for a small squeeze higher, the upper 1.32s appear to be a decent selling opportunity.”
Key quotes
“It’s also worth noting that German-US yield spreads, while slightly tighter over the past two days, do not corroborate the move higher in the FX spot rate. For the North American session, a speech by the ECB’s was the main European highlight, while Syrian headlines should continue to be a dominant force as well.”
“Broadly speaking, we continue to view the broader trend for EUR/USD as lower, and while there is scope for a small squeeze higher, the upper 1.32s appear to be a decent selling opportunity.”