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14 Nov 2013
Flash: EUR/USD is weak, but still within Wednesday’s range - Scotiabank
FXstreet.com (Barcelona) - Camilla Sutton, Chief FX Strategist at Scotiabank notes that EUR/USD is weak, down -0.4% since yesterday’s close, but still trading within Wednesday’s range.
Key Quotes
European growth releases were mixed, as expected in Germany at 03% QoQ and 0.6% YoY, and disappointing from France, and flirting with recession in the wider Eurozone with GDP at 0.1% QoQ and -0.4% YoY.”
“The growth outlook for the US and the Eurozone is beginning to diverge, with the Q3 prints suggesting there is too little optimism priced in for the US and too much for Europe.”
“This is an important shift and one that is likely to support the USD. Tomorrow’s CPI (final) release for October will be important for judging the ECB’s path from here.”
Key Quotes
European growth releases were mixed, as expected in Germany at 03% QoQ and 0.6% YoY, and disappointing from France, and flirting with recession in the wider Eurozone with GDP at 0.1% QoQ and -0.4% YoY.”
“The growth outlook for the US and the Eurozone is beginning to diverge, with the Q3 prints suggesting there is too little optimism priced in for the US and too much for Europe.”
“This is an important shift and one that is likely to support the USD. Tomorrow’s CPI (final) release for October will be important for judging the ECB’s path from here.”