Free Trial

VIEW: NAB "think it's fair to say.......>

EURO-DOLLAR
EURO-DOLLAR: VIEW: NAB "think it's fair to say while positioning on the IMM has
not been short the EUR, intraday traders have been keen to play from the short
side given the GCC ruling and perceived extent of the economic slowdown in the
EU. The $1.0638 recent low ought now not be tested, lest broken, while our 1.09
weekly top has been breached, suggesting $1.1000 as the next upside barrier. To
be sure $1.1200 is a more significant resistance, but we don't see the EUR
testing there just yet. That would need confirmation the Recovery Fund with
grants is a reality and of sufficient size. An agreement from the GCC would
help."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.