29 Jul 2013
Flash: Drop of USD paused ahead of Fed and ECB meetings - UBS
FXstreet.com (Córdoba) - The UBS analyst team commented on the USD in a week filled with economic events.
Key quotes
“EURUSD was unable to break above 1.33 and AUDUSD failed to climb above 0.93 on Monday. Investors did not want to build up new risk positions ahead of the important central bank meetings this week”.
“The USD even rebounded after the release of pending home sales statistics, even though the data showed unchanged activity relative to the previous month”.
“We expect EURUSD to remain range bound, but to head lower within ranges after the ECB meeting this Thursday”.
Key quotes
“EURUSD was unable to break above 1.33 and AUDUSD failed to climb above 0.93 on Monday. Investors did not want to build up new risk positions ahead of the important central bank meetings this week”.
“The USD even rebounded after the release of pending home sales statistics, even though the data showed unchanged activity relative to the previous month”.
“We expect EURUSD to remain range bound, but to head lower within ranges after the ECB meeting this Thursday”.