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Forex pairs in this Article » EUR/USD (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that Germany reported a 2.1% rise in November factory orders, completely offsetting the October decline and pointing to potential upside tomorrow's industrial production report.

Key Quotes

“Neither this nor the 1.4% gain in euro area November retail sales managed to stem the erosion of the euro.”

“A break of this week's low just above $1.3570 could spur a quick move toward last month's lows near $1.3525.”

“The risk is that some speculative euro longs are pared ahead of Draghi's press conference tomorrow, where the risk is for dovish comments in lieu of more immediate action.”
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