Forex Flash: EUR/USD could fall toward 1.2600 - UBS

FXstreet.com (Córdoba) - FX markets ignored on Wednesday bad data out of Europe and out of the US, according to the UBS analyst team. "In Germany a weak ifo index re-inforced expectations for a rate cut by the ECB on May 2nd. In the US a surprising fall of durable goods orders questioned the timing for tapering off the quantitative easing program".

"EURUSD remains hanging at the 1.30, but the change in European data should eventually weigh on the common currency, driving EURUSD towards 1.26", UBS says.