3 Sep 2013
Flash: Majors in focus - Societe Generale
FXstreet.com (London) - Sebastien Galy, strategist at Societe Generale feels the USD should continue to rise vs EUR and CHF and offers opinions across the board.
Key Quotes:
"A widening differential between US and European swaps ahead of NFP should continue to push EUR/USD lower and USD/JPY higher".
"Long USD vs CHF and JPY may well be the trade as EUR/CHF maintains its very slow uptrend while risks in the Eurozone declined long ago".
"The Greek aid theme is already out. German elections on the 22 will determine how peripheral friendly Germany is".
"It pretty much depends on the ability of the FDP to have more than 5% of the vote and somewhat better, otherwise the probable alternative is a coalition CDU/CSU with SPD, a positive for peripherals".
Key Quotes:
"A widening differential between US and European swaps ahead of NFP should continue to push EUR/USD lower and USD/JPY higher".
"Long USD vs CHF and JPY may well be the trade as EUR/CHF maintains its very slow uptrend while risks in the Eurozone declined long ago".
"The Greek aid theme is already out. German elections on the 22 will determine how peripheral friendly Germany is".
"It pretty much depends on the ability of the FDP to have more than 5% of the vote and somewhat better, otherwise the probable alternative is a coalition CDU/CSU with SPD, a positive for peripherals".