22 Aug 2013
Flash: EUR/USD shackled by event risks? – Westpac
FXstreet.com (New York) - The EUR/USD has been among the better-placed currencies, withstanding taper driven USD gains amid much improved Eurozone data, suggests Sean Callow, a Global FX Strategist at Westpac.
Key quotes
“The region’s healthy current account position also an underrated positive. We suspect next week holds much the same with EUR/USD likely to hold up thanks to a probable decent IFO survey – September 22 German election the key event risk and after that the shape of the next Greek bailout.”
“A haircut on the remaining official public creditors likely to be very negative for EUR whereas no haircut and a generous loan package likely to be EUR positive.”
Key quotes
“The region’s healthy current account position also an underrated positive. We suspect next week holds much the same with EUR/USD likely to hold up thanks to a probable decent IFO survey – September 22 German election the key event risk and after that the shape of the next Greek bailout.”
“A haircut on the remaining official public creditors likely to be very negative for EUR whereas no haircut and a generous loan package likely to be EUR positive.”