26 Sep 2013
Flash: EUR/USD: Stuck in a Range – TD Securities
FXstreet.com (Córdoba) - The EUR has been under mild pressure Thursday since the Eurozone M3 release, but comments from the Fed's Lacker (hawkish, non-voter) have likely been the stronger force behind EUR/USD selling, according to the TD Securities team, which commented on the upcoming releases and the EUR/USD outlook.
Key Quotes
"Eurozone money supply growth was in line with expectations, but details of lending data were not that great. Still, it was a small sign of improvement and adds to the reasons why we are not likely to see a new LTRO in the near future".
"For the North American trading day, the central-bank-speaker theme of the week will continue, with two ECB speakers and three Fed speakers. From the ECB we are likely to hear the dovish stance reiterated, while the message from Fed members should remain more mixed".
"Overall that may not provide much of a reason for EUR/USD to move outside of the last week's range".
Key Quotes
"Eurozone money supply growth was in line with expectations, but details of lending data were not that great. Still, it was a small sign of improvement and adds to the reasons why we are not likely to see a new LTRO in the near future".
"For the North American trading day, the central-bank-speaker theme of the week will continue, with two ECB speakers and three Fed speakers. From the ECB we are likely to hear the dovish stance reiterated, while the message from Fed members should remain more mixed".
"Overall that may not provide much of a reason for EUR/USD to move outside of the last week's range".