Eur/usd Weekly Outlook

Eur/usd Weekly Outlook


Quotes from Barclays Capital:
-We expect the ECB's firmer footing to remain in the very short term for three reasons. First, Draghi's words, while short on detail, will have bought peripheral countries a little time in the eyes of the market (though if when the time comes, resistance to necessary measures remains, the risk premium on the EUR is likely to rise sharply).
-Second, this week's euro area calendar is very light. As long as market patience holds (and in the absence of unplanned political events), we expect risk to at least trade sideways on limited news.
-Third, the large positive surprise from Friday's NFP (and even larger surprise from private payroll) will have provided the market with some comfort about US/global economic prospects. For these reasons we prefer to be neutrally positioned in EURUSD this week.



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