Data, geopolitics weighs on EUR - TD Securities

By FXstreet.com | August 28, 2014 AAA

FXStreet (Córdoba) - The TD Securities team notes that the EUR/USD retains a weak bias, and they expect losses to extend towards 1.2900 in the next few weeks.



Key Quotes



"EUR/USD retains a weak bias - aside from the headlines from Ukraine, this morning’s data round from Europe made for some uncomfortable reading, especially for the peripheral economies".



"Deflationary pressures are building again in Spain and the decline in the Italian components of the EU sentiment surveys was, according to EU officials, ‘particularly pronounced’."



"EUR/USD is trading heavily again as rebounds back above 1.32 have failed to generate a lot of follow through interest this week. We remain bearish and look for losses to extend towards 1.29 in the next few weeks".



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