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11 Sep 2013
Flash: EUR/USD primed for bearishness – TD Securities
FXstreet.com (Lisbon) - German CPI data earlier was one of highlight Eurozone releases of the week, although an as-expected outcome and the bigger focus on Syrian developments left the EUR/USD in consolidation mode, notes the TD Securities Team.
Key quotes
“ECB Executive Board member Asmussen speaks again this afternoon (at 1:00PM ET) where he is likely to emphasize the downside case as he did yesterday. Echoing Draghi last week, Asmussen has reiterated that the ECB remains ready to act if conditions deteriorate.”
“Such comments could weigh on the EUR/USD in an otherwise quiet day for data. Syrian headlines, are of course the other main concern for EUR/USD and the FX space as a whole today. Broadly speaking, we remain bearish on the pair and as we outlined in a note yesterday, we think these levels mark the sell zone.”
Key quotes
“ECB Executive Board member Asmussen speaks again this afternoon (at 1:00PM ET) where he is likely to emphasize the downside case as he did yesterday. Echoing Draghi last week, Asmussen has reiterated that the ECB remains ready to act if conditions deteriorate.”
“Such comments could weigh on the EUR/USD in an otherwise quiet day for data. Syrian headlines, are of course the other main concern for EUR/USD and the FX space as a whole today. Broadly speaking, we remain bearish on the pair and as we outlined in a note yesterday, we think these levels mark the sell zone.”