23 Mar 2015
Eyes on Draghi’s testimony, go long EUR/USD – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team comment on the key events which might affect the single currency in this week – Draghi’s testimony, Merkel-Tsipras meeting, Fed members speech, Eurozone PMIs and German lfo index, and further suggest remaining long on EUR/USD targeting 1.1000 levels.
Key Quotes
“In the Euro zone, ECB President Mario Draghi will address a European Parliament committee today 14:30 GMT, with Greece and the progress of the ECB's quantitative easing programme sure to be high on the agenda.”
“With officials in Brussels, Berlin and the ECB now openly acknowledging the risk that Greece could leave the euro zone, a meeting between Alexis Tsipras and Angela Merkel in Berlin on Monday will be closely watched for signs of a breakthrough or hardening of positions.”
“The market will focus also on today’s comments from Fed Vice Chair Stanley Fischer (15:00 GMT). Another important event this week is the release of U.S. CPI data (on Tuesday 12:30 GMT).”
“Euro zone PMIs (Tuesday, 9:00 GMT) will be important macroeconomic releases this week that could support our long EUR/USD position. They should post the fourth consecutive increase, confirming that the economic recovery is regaining traction.”
“Lower oil prices and weak EUR will continue to stimulate the real economy, especially the manufacturing sector.”
“We expect also stronger increase in German Ifo index (Wednesday, 9:00 GMT), after it rose only 0.1 point in the previous month.”
“The EUR/USD reached its daily high at 1.0882 on Friday but fell back to 1.0784 early in Asia. We stay EUR/USD long for 1.1000. We have raised our stop-loss to 1.0730.”
Key Quotes
“In the Euro zone, ECB President Mario Draghi will address a European Parliament committee today 14:30 GMT, with Greece and the progress of the ECB's quantitative easing programme sure to be high on the agenda.”
“With officials in Brussels, Berlin and the ECB now openly acknowledging the risk that Greece could leave the euro zone, a meeting between Alexis Tsipras and Angela Merkel in Berlin on Monday will be closely watched for signs of a breakthrough or hardening of positions.”
“The market will focus also on today’s comments from Fed Vice Chair Stanley Fischer (15:00 GMT). Another important event this week is the release of U.S. CPI data (on Tuesday 12:30 GMT).”
“Euro zone PMIs (Tuesday, 9:00 GMT) will be important macroeconomic releases this week that could support our long EUR/USD position. They should post the fourth consecutive increase, confirming that the economic recovery is regaining traction.”
“Lower oil prices and weak EUR will continue to stimulate the real economy, especially the manufacturing sector.”
“We expect also stronger increase in German Ifo index (Wednesday, 9:00 GMT), after it rose only 0.1 point in the previous month.”
“The EUR/USD reached its daily high at 1.0882 on Friday but fell back to 1.0784 early in Asia. We stay EUR/USD long for 1.1000. We have raised our stop-loss to 1.0730.”