23 May 2014
EUR propelled below 200 DMA - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted the move lower in the Euro through key levels.
Key Quotes
"German IFO survey for May came in lower across all categories, propelling the euro below its 200-day MA at 1.3637. The headline business climate came in at 110.4 vs. 110.9 expected."
"The current assessment was 114.8 vs. 115.4 expected, while expectations component was 106.2 vs. 106.5 expected. We doubt the data will serve as much more than confirmation that the ECB is ready to take additional easing measures. Elsewhere in Europe, Italy reported March retail sales at -3.5% y/y, well below expectations for a decline of -1.0%."
Key Quotes
"German IFO survey for May came in lower across all categories, propelling the euro below its 200-day MA at 1.3637. The headline business climate came in at 110.4 vs. 110.9 expected."
"The current assessment was 114.8 vs. 115.4 expected, while expectations component was 106.2 vs. 106.5 expected. We doubt the data will serve as much more than confirmation that the ECB is ready to take additional easing measures. Elsewhere in Europe, Italy reported March retail sales at -3.5% y/y, well below expectations for a decline of -1.0%."