EUR is weak ahead of key “testing” CPI’s - Scotiabank

By FXstreet.com | Updated August 13, 2014 AAA

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank notes that the EUR is weak ahead of key data.



Key Quotes



"EUR is weak, but still trading in its 8‐session narrow 100 point 1.3333 to 1.3433 range. Today’s industrial production was disappointing, falling –0.3%m/m; however the real test is tomorrow’s CPI release, expected to come in at the flash estimate of 0.4%y/y on headline and 0.8%y/y on core; however a downward tilt to both France and Spain warn that disinflationary pressures are still a headwind."



"Any disappointment will be met with expectations of further ECB action. Eurozone GDP is expected to rise just 0.1%q/q in the second quarter."



You May Also Like

Related Forex Analysis
  1. Forex News

    Trading Video: EURUSD, EURJPY and EURGBP Ready for Greek Election

  2. Forex News

    Strategy Video: Euro Risks Are Not Extinguished by ECB Stimulus

  3. Forex News

    EUR/GBP re-takes 0.75 handle

  4. Forex News

    EUR/GBP breaches 0.7500

  5. Forex News

    EUR Tumbles Post-ECB; Does New QE Program Live Up to Hype?

Trading Center