Eur/usd Remains a Sell on Rallies

Eur/usd Remains a Sell on Rallies


Quotes from Societe Generale Cross Asset Research:
-As far as economic data are concerned, today's calendar is empty. Market participants will have to position for gloomy eurozone indicators as of tomorrow, in both peripheral countries (Italian Q2 GDP expected down for the fourth month in a row) and also in the core (negative industrial production is expected in Germany).
-All in all, risk sentiment is expected to remain shaky and biased towards risk-off this month. EUR/USD remains a sell on rallies, while we continue to favour short EUR/SEK and EUR/AUD positions (unless the RBA surprises with a rate cut tomorrow).



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