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Flash: EUR/USD multi-week bias remains a sell – Westpac

FXstreet.com (New York) – The song remains the same: Eurozone data momentum remains sufficiently encouraging for the likes of ECB’s Nowotny to douse rate cut talk and the EZ current account surplus aids the EUR/USD when capital flows are still seasonally light, suggests Sean Callow, a Global FX Strategist at Westpac.

Key quotes

“A decent German IFO survey would add to the case for a EUR/USD test of 1.3500 though progress is slowed by broad USD resilience. Greece lingers on the horizon but for the most part sovereign debt is not a near term market concern.

“Our multi-week bias remains to sell …read more