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3 Mar 2015
EUR/USD: Soft below 1.12 handle - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, chief FX strategist at Scotiabank noted the conditions surrounding the Euro as we lead further in the week.
Key Quotes:
"EUR is leaking lower, trading back below 1.1200 but still within its month and half long range of 1.1098 to 1.1542/63; the chart suggests wide indecision in markets with the last three sessions having an open and close essenƟally on top of each other."
"Headlines that Greece is in talks for a third bailout of €50bn do not appear to have shaken markets, however do highlight the turmoil that still lies ahead."
"German fundamental data was strong, with a jump higher in the volatile retail sales, up 2.9%m/m and 5.3%y/y; however offsetting this was a dis‐ appointing PPI release from the Eurozone, falling –0.9%m/m and –3.4%y/y.
Key Quotes:
"EUR is leaking lower, trading back below 1.1200 but still within its month and half long range of 1.1098 to 1.1542/63; the chart suggests wide indecision in markets with the last three sessions having an open and close essenƟally on top of each other."
"Headlines that Greece is in talks for a third bailout of €50bn do not appear to have shaken markets, however do highlight the turmoil that still lies ahead."
"German fundamental data was strong, with a jump higher in the volatile retail sales, up 2.9%m/m and 5.3%y/y; however offsetting this was a dis‐ appointing PPI release from the Eurozone, falling –0.9%m/m and –3.4%y/y.