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11 Aug 2014
EUR-USD may remain hesitant on the upside - OCBC
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, notes that the EUR-USD may remain hesitant on the upside with an interim cap expected at 1.3455.
Key Quotes
"EUR prospects may continue to be dictated by a huge plateful of EZ data points this week (GDP numbers on Thursday) and headline risks are expected to be fairly significant. As such, the EUR-USD may remain hesitant on the upside with an interim cap expected at 1.3455 while 1.3300/30 may remain within reach pending news developments. On the CFTC front, note that net leveraged EUR shorts deepened further in the latest week to near stretched levels."
Key Quotes
"EUR prospects may continue to be dictated by a huge plateful of EZ data points this week (GDP numbers on Thursday) and headline risks are expected to be fairly significant. As such, the EUR-USD may remain hesitant on the upside with an interim cap expected at 1.3455 while 1.3300/30 may remain within reach pending news developments. On the CFTC front, note that net leveraged EUR shorts deepened further in the latest week to near stretched levels."